Fasal Bima Yojana completes 5 years, PM congratulates beneficiaries

at 1:19 pm
Fasal Bima Yojana
Prime Minister Narendra Modi

New Delhi (NVI): As Pradhan Mantri Fasal Bima Yojana (PMFBY) completed five years of operation today, Prime Minister Narendra Modi congratulated all the beneficiaries of the scheme and said it has benefitted crores of farmers.

According to the Union Agriculture Ministry, the claim worth Rs 90,000 crore have been disbursed so far to farmers since the launch of the PMFBY scheme on January 13, 2016.

In a series of tweet, PM Modi said, “An important initiative to secure hardworking farmers from the vagaries of nature, PM Fasal Bima Yojana completes 5 years today. The Yojana has increased coverage, mitigated risk & benefitted crores of farmers. I congratulate all beneficiaries of the scheme.”

The Prime Minister also asked people to get information on how the ‘PM Fasal Bima Yojana’ has helped farmers from his NaMo app

“How has PM Fasal Bima Yojana ensured greater benefit to farmers? How has transparency been furthered in settlement of claims? These, and other aspects relating to PM-FBY have been answered through innovative content on NaMo App’s Your Voice Section,” he said in another tweet.

As per the Agriculture Ministry data, more than 5.5 crores farmers’ applications are enrolled under PM Fasal Bima Yojana (PMFBY) each year.

The government launched this scheme in 2016 from Kharif season. It is a comprehensive coverage, protecting farmers from sowing to post-harvest by combining extensive uses of technology to assess crop losses.

Under this scheme, in addition to the share of the farmer, the premium coast is paid equally by the states and the central government in the form of assistance. However, the Centre’s share is 90 per cent of the premium subsidy for northeastern states to promote the uptake in the region.

The scheme also benefitted nearly 70 lakh farmers and claims worth Rs 8,741.30 crore were transferred to the beneficiaries, during the COVID-19 lockdown period, the ministry has said.