Left Menu
Development News Edition

Pradhan Mantri Fasal Bima Yojana is security cover for farmers, says Narendra Singh Tomar

Union Agriculture Minister Narendra Singh Tomar on Wednesday interacted with stake-holders across the country via video conferencing on completion of five years of the Pradhan Mantri Fasal Bima Yojana and said there is a need to raise awareness about the scheme so that more farmers can take advantage of it.

ANI | New Delhi | Updated: 13-01-2021 23:05 IST | Created: 13-01-2021 23:02 IST
Pradhan Mantri Fasal Bima Yojana is security cover for farmers, says Narendra Singh Tomar
Union Agriculture Minister Narendra Singh Tomar interacted with stake-holders across the country via video conferencing. . Image Credit: ANI

Union Agriculture Minister Narendra Singh Tomar on Wednesday interacted with stake-holders across the country via video conferencing on completion of five years of the Pradhan Mantri Fasal Bima Yojana and said there is a need to raise awareness about the scheme so that more farmers can take advantage of it. The scheme, which was launched as a major step to provide a comprehensive risk solution at the lowest uniform premium across the country for farmers, was approved by the union cabinet on January 13, 2016.

According to a release by Agriculture Ministry, the minister also congratulated the state governments, banks and insurance companies for successful implementation of the scheme throughout the country. He cited instances where the scheme was able to safeguard the interests of farmers, such as disbursements of claims during dry spell in Andhra Pradesh, Karnataka, hailstorms in Haryana and locust attack in Rajasthan in 2019. "A total of Rs 90, 000 crore have been paid as claims to farmers till now. In fact, the scheme was fully operational during the COVID-19 lockdown, distributing claims of over 8741.3 crores to 69.70 lakh farmers across India, which is highly commendable," he said, adding that it was "milestone crop insurance scheme".

The meeting was attended by over 150 representatives including officials of the state governments, banks and insurance companies. The stakeholders discussed key features of the scheme such integration of land records with the PMFBY portal, crop insurance mobile-app, satellite imagery and remote-sensing technology for robust coverage around the country. .

The scheme was made voluntary for all farmers, post its revamp in February 2020. "Over 5.5 crore farmer applications have been received on year on year basis, taking the count of total farmer applications to over 28 crores in the last 5 years," the release said. Agriculture Secretary Sanjay Aggrawal in his address said that the PFMBY is the largest insurance scheme in the world for farmers and is an example of effective utilisation of technology in the Agriculture sector. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....

Videos

Latest News

Japan stands firm on Tokyo Olympics schedule, denies report of cancellation

Japan doubled down on its commitment to host the Tokyo Olympics this year and flatly denied reports on Friday of a possible cancellation, in a move that is unlikely to temper public fears of holding the event during a global pandemic. Thoug...

Dynamic Spectrum Sharing to facilitate smooth migration to 5G: Samsung whitepaper

Samsungs DSS solution can effectively maximize operational efficiency and offer a smooth transition to 5G by accommodating both 4G and 5G users on the same spectrum, the company said in a whitepaper that focuses on DSS technology along with...

Biocon reports 17 pc dip in Q3 net profit at Rs 169 cr

Biopharmaceuticals major Biocon Ltd has reported 17 per cent decline in its net profit to Rs 169 crore during the quarter ended December while the companys topline grew by 7 per cent to Rs 1,879 crore. It had posted a net profit of Rs 203 c...

NTPC declares 150 MW unit of Kameng Hydro-Electric Project commercially operational

State-run power producer NTPC on Friday said 150 mega watt MW unit of Kameng Hydro-Electric Project of its subsidiary North Eastern Electric Power Corporation is commercially operational.Consequent upon successful commissioning, unit-3 of 1...

Give Feedback