Deputy Chief Minister of Uttar Pradesh, Keshav Prasad Maurya, announced a significant payout under the Pradhan Mantri Fasal Bima Yojana (PMFBY). A total of ₹831 crore has been disbursed to approximately 10 lakh insured farmers for the 2022-2023 period up until October 2023.
PMFBY: Support for Insured Farmers
This compensation aims to provide financial relief to farmers who have faced crop losses, ensuring they receive timely support to mitigate their hardships. The PMFBY continues to play a crucial role in safeguarding farmers’ livelihoods against unpredictable agricultural risks.
Boosting Agricultural Resilience
The disbursement reflects the government’s commitment to boosting agricultural resilience and ensuring farmers have the necessary financial backing to recover from losses. The initiative underscores the importance of crop insurance in maintaining agricultural stability.
With continued focus on schemes like PMFBY, the government aims to enhance the agricultural sector’s robustness, helping farmers across Uttar Pradesh and the nation at large to thrive despite challenges. This payout is a step towards achieving greater economic security for farmers.
