Prahan Mantri Fasal Bima Yojna
The highlights of this scheme are as given below:
--There will be a uniform premium of only 2 percent to be paid by farmers for all kharif crops and 1.5 per cent for all rabi crops.
--In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5 per cent.
--The premium rates to be paid by farmers are very low and balance premium will be paid by the
government to provide full insured amount to the farmers against crop loss on account of natural
calamities.
--There is no upper limit on Government subsidy. Even if balance premium is 90 per cent, it will be borne by the Government.
--25 per cent of the likely claim will be settled directly on farmers account and there will be one
insurance company for the entire state as well as farm level assessment of loss for localised risks
and post harvest loss.
--Earlier, there was a provision of capping the premium rate which resulted in low claims being paid
to farmers. This capping was done to limit Government outgo on the premium subsidy. This capping
has now been removed and farmers will get claim against full sum insured without any reduction.
--The use of technology will be encouraged to a great extent. Smartphones will be used to capture
and upload data of crop cutting to reduce the delays in claim payment to farmers.
--Remote sensing will be used to reduce the number of crop cutting experiments.
The highlights of this scheme are as given below:
--There will be a uniform premium of only 2 percent to be paid by farmers for all kharif crops and 1.5 per cent for all rabi crops.
--In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5 per cent.
--The premium rates to be paid by farmers are very low and balance premium will be paid by the
government to provide full insured amount to the farmers against crop loss on account of natural
calamities.
--There is no upper limit on Government subsidy. Even if balance premium is 90 per cent, it will be borne by the Government.
--25 per cent of the likely claim will be settled directly on farmers account and there will be one
insurance company for the entire state as well as farm level assessment of loss for localised risks
and post harvest loss.
--Earlier, there was a provision of capping the premium rate which resulted in low claims being paid
to farmers. This capping was done to limit Government outgo on the premium subsidy. This capping
has now been removed and farmers will get claim against full sum insured without any reduction.
--The use of technology will be encouraged to a great extent. Smartphones will be used to capture
and upload data of crop cutting to reduce the delays in claim payment to farmers.
--Remote sensing will be used to reduce the number of crop cutting experiments.
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