2017-07-25

Pradhan Mantri Fasal Bima Yojana: Unstarred Question in Loksabha

Pradhan Mantri Fasal Bima Yojana

(a) whether major changes have been made in the schemes ‘Pradhan Mantri Fasal Bima Yojana’ by removing the discrepancies in the old crop insurance schemes so that the farmers get maximum benefits;
(b) if so, the details thereof;
(c) whether the premium has been reduced to minimum and the payment limit related to insurance has also been removed under the Pradhan Mantri Fasal Bima Yojana; and

(d) if so, the details thereof?
GOVERNMENT OF INDIA
MINISTRY OF AGRICULTURE AND FARMERS WELFARE
LOK SABHA
UNSTARRED QUESTION NO: 1483                                     ANSWERED ON: 25.07.2017

Pradhan Mantri Fasal Bima Yojana

GOPAL CHINAYYA SHETTY

Will the Minister of AGRICULTURE AND FARMERS WELFARE be pleased to state:-
(a) whether major changes have been made in the schemes ‘Pradhan Mantri Fasal Bima Yojana’ by removing the discrepancies in the old crop insurance schemes so that the farmers get maximum benefits;
(b) if so, the details thereof;
(c) whether the premium has been reduced to minimum and the payment limit related to insurance has also been removed under the Pradhan Mantri Fasal Bima Yojana; and
(d) if so, the details thereof?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF AGRICULTURE AND FARMERS WELFARE

(SHRI PARSHOTTAM RUPALA)

(a) to (d) : Yes, Madam. Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched from Kharif 2016 season after a comprehensive review of the erstwhile crop insurance schemes in consultation with all stakeholders. Premium to be paid by the farmers has been reduced to maximum of 2% for Kharif crops, 1.5% for Rabi Crop and 5% for annual commercial/horticultural crops. The balance of actuarial premium is shared by the Central and State Governments on 50 : 50 basis. Several other measures like removal of cap on premium which had earlier led to reduction in sum insured vis-à-vis claims, if any; equating the sum insured with Scale of Finance for maximum risk coverage of farmers etc. have also been incorporated. Salient features of the scheme are annexed.

{http://164.100.47.194/Loksabha/Questions/QResult15.aspx?qref=54590&lsno=16}
Source: Loksabha

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