7 Things to know about Modi’s Pradhan Mantri Fasal Bima Yojna

February 19, 2016 12:09 PM | Skymet Weather Team

On Thursday evening, Prime Minister of India Narendra Modi gave the farmers of this country a much needed upgraded crop insurance scheme which would beneficial them in numerous ways. The Pradhan Mantri Fasal Bima Yojna which was upgraded last month, Prime Minister Narendra Modi lauded the same at Farmer’s Rally in Sherpur in Sehore district of Madhya Pradesh.

In a series of tweets, the Prime Minister said the scheme includes successful aspects of the existing schemes and "effectively addresses" whatever was lacking in those schemes.

Here are the pointers that make the crop insurance scheme one of a kind.

1. This upgrade by NDA government to the existing scheme ensures the biggest ever contribution by government to Crop Insurance.

2. Rs 8,800 cr crop insurance scheme has been sanctioned under this scheme.

3. The contribution by the government makes the farmer bear the minimum of the premium rate.

4. There will be one premium rate for each season on all foodgrains, oilseeds, and pulses – removing all the variaitions in rates across crops and districts within season – Kharif: 2%; Rabi: 1.5%.

5. There will be no capping of the sum insured; the farmers will get full insurance cover.

6. Inundation has been included in this upgrade.

7. Emphasis on the usage of smartphones and satellite technology to facilitate the accurate assessment and settlement of claims is done.

Here are a few snippets of Prime Minister Narendra Modi addressing the farmer’s rally in Madhya Pradesh.

 

 

 

 

Featured Image Credit: financialexpress.com

 

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