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Pradhan Mantri Fasal Bima Yojana’s guidelines released at Kisan Mela

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To underline the Govt’s initiative for the development of the agriculture sector and welfare of farmers, PM Narendra Modi addressed farmers at a Kisan Kalyan Mela at Sehore in Madhya Pradesh.

  • During the occasion, PM also released guidelines for operationalisation of the Pradhan Mantri Fasal Bima Yojana, a scheme for crop insurance.

Pradhan Mantri Fasal Bima Yojana’s guidelines released at Kisan Mela

Key features of Pradhan Mantri Fasal Bima Yojana

The scheme will come into effect from the upcoming Kharif season.

  • Under this scheme, farmers will have to pay a uniform premium 2% for Kharif crops and 1.5% for Rabi crops.
  • The premium for annual commercial and horticultural crops will be 5%.
  • There is no upper limit on the Government’s subsidy for this scheme. The provision of capping the premium rate, which existed in earlier schemes, and resulted in low claims being paid to farmers, has been done away with.
  • Farmers will get claims against the full sum insured, without any reduction.

The Prime Minister also distributed soil health cards and crop insurance settlement claims to select beneficiaries.

Other Events at Kisan Kalyan Mela:

  • Prime Minister Modi presented a trophy of Krishi Karman Award to Chief Minister Shivraj Singh Chouhan.
  • On the other hand, Modi was conferred with Kisan Mitra and Kisan Hiteshi Samman on behalf of Madhya Pradesh government for his historic decisions in the interest of farmers’ community.