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National News

Jan 13, 2021

PM Modi says, PM Fasal Bima Yojana is an important initiative to secure hardworking farmers from vagaries of nature

The Central Government's flagship crop insurance scheme has successfully completed 5 years of its operation. In a historic step towards strengthening risk coverage of crops for farmers, the government approved the scheme on this day in 2016.  

Prime Minister Narendra Modi has said that Pradhan Mantri Fasal Bima Yojana is an important initiative to secure hardworking farmers from the vagaries of nature. Congratulating all beneficiaries of the scheme, the Prime Minister said that the scheme has increased coverage, mitigated risk and benefitted crores of farmers in the country.

Hailing the success of the visionary scheme, Home Minister Amit Shah said, PMFBY has been successful in insuring income of the farmers by giving them crop-insurance cover even after the harvest. He asserted that Prime Minister Narendra Modi and the Centre is committed to making farming easy as well as profitable for the farmers in the country.

In the scheme, premium cost over and above the farmer share is equally subsidized by the Centre and States. The Agriculture Ministry has said that the average sum insured per hectare has increased from 15,100 during the pre-PMFBY Schemes to 40,700 under Pradhan Mantri Fasal Bima Yojana. 

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