New Delhi: Crop Insurance coverage Week which runs from July 1 to 7 yearly. To create consciousness about crop insurance coverage programmes and encourage enrollment amongst farmers, which offer insurance coverage protection to farmers. A structured consciousness marketing campaign ‘Crop Insurance coverage Week’ has been launched by the Ministry of Agriculture and Farmers Welfare from Kharif 2021 season.
Goal of the schemes
The Union Agriculture and Farmers Welfare Minister had mentioned in a written reply within the Lok Sabha final 12 months that the primary focus of the marketing campaign is to extend consciousness about the advantages of the scheme, sensitize stakeholders and improve the general enrollment of farmers. This might help them get the advantages of crop insurance coverage with particular deal with the recognized aspirational/tribal districts.
Crop Insurance coverage Week
Giving details about crop insurance coverage, Agriculture Insurance coverage Firm of India Restricted (AIC) posted on social media X that after once more, AIC and PMFBY are developing with Crop Insurance coverage Week. This Crop Insurance coverage Week, get your Kharif crops insured beneath PMFBY with AIC and be financially safe.
Within the final 8 years of implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY), 56.80 crore farmers have been enrolled. Claims have been acquired from over 23.22 crore farmer candidates. Throughout this era, about Rs 31,139 crore was paid by farmers as their share of premium, in opposition to which claims of over Rs 1,55,977 crore have been paid to them.
Thus, for each Rs 100 premium paid by farmers, they’ve acquired about Rs 500 as declare, the Ministry of Agriculture and Farmers Welfare mentioned in March this 12 months.
What’s PMFBY?
PMFBY is a demand-based scheme and is voluntary for states in addition to farmers. The variety of farmer functions has elevated by 33.4 per cent and 41 per cent respectively throughout the 12 months 2021-22 and 2022-23. Aside from this, the variety of farmers enrolled beneath this scheme has elevated by 27 per cent thus far throughout the 12 months 2023-24. The Union Ministry mentioned that out of the whole farmers insured beneath this scheme within the monetary 12 months 2023-24, 42 per cent are non-debtor farmers.
World’s third largest insurance coverage scheme
The third largest insurance coverage scheme worldwide when it comes to premium, the PM Crop Insurance coverage Scheme, launched in 2016, protects farmers from crop loss or harm brought on by unexpected occasions. PMFBY is efficiently fulfilling the aims of the scheme, together with offering monetary help to stabilize the revenue of farmers, particularly in pure catastrophe affected seasons, years and areas. The Union ministry had earlier mentioned that PMBFY is a Central Sector scheme, therefore there isn’t a State/UT-wise allocation and launch beneath the scheme.