PM Fasal Bima Yojana Deadline extended

Central government has agreed to demand from Maharashtra government to extend cut-off date to enrol farmers from July 15 to July 23 for Kharif season 2021 under Pradhan Mantri Fasal Bima Yojana (PMFBY).

Key Points

• Maharashtra government had requested to extend deadline of Crop Insurance scheme, PMFBY till July 23.
• State Government has requested to extend cut-off for Kharif 2021 in the aftermath of challenges faced due to COVID-19 pandemic.
• As per Maharashtra government, 46 lakh farmers have applied for scheme, but many of them are yet to complete enrolment formalities.

Pradhan Mantri Fasal Bima Yojana (PMFBY)

PMFBY was launched on February 18, 2016 by Prime Minister Narendra Modi. It is an insurance cover for farmers for their yields. This scheme was formulated under One Nation–One Scheme theme. This scheme replaced two schemes called National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS) and incorporated their best features. This scheme was launched with the aim of reducing premium burden on farmers and ensure early settlement of crop assurance claim. PMFBY is aimed at providing comprehensive insurance cover in case of failure of crop. Thus, it helps stabilising income of farmers.

Which crops are covered under PMFBY?

This scheme provided cover to all Food & Oilseeds crops and annual commercial or horticultural crops for which past yield data is available. It covers those crops as well for which requisite number of Crop Cutting Experiments (CCEs) are being conducted under General Crop Estimation Survey (GCES).

Who implements this scheme?

PMFBY is implemented by empanelled general insurance companies. Selection of Implementing Agency (IA) is done by concerned State Government by bidding. It is administered by Ministry of Agriculture.

Month: Current Affairs - July, 2021