Over Rs 1.50 lac Cr claims paid to insured farmers under PM Fasal Bima Yojana till Rabi season 2022-23
The Government today said claims of over 1 lakh 50 thousand crore rupees have been paid to insured farmers under Pradhan Manti Fasal Bima Yojana (PMFBY) till Rabi 2022-23 season since the inception of the scheme in 2016-17.
In a written reply in the Lok Sabha, Agriculture and Farmers Welfare Minister Narendra Singh Tomar informed the amount was paid to these insured farmers who had paid a premium of over 29 thousand crore rupees for their crops.
He said the PMFBY envisages coverage of all food crops (cereals, millets, and pulses), oilseeds, and commercial and horticultural crops. It is subject to the availability of past yield data of a requisite number of years based on Crop Cutting Experiments (CCEs) as well as the capacity of the State Government to conduct the requisite number of CCEs to assess the yield of the crop to calculate claims.
The Minister said, for the crops not meeting the conditions, the concerned State is free to notify them for coverage under the Restructured Weather Based Crop Insurance Scheme under which claims payments are being structured based on weather index parameters.
