3.6 cr farmers take insurance cover of Rs 1.41 lakh cr so far
December 07, 2016 21:24
About 3.6 crore farmers have taken the crop insurance policy for a sum insured of Rs 1.41 lakh crore so far in 2016-17 crop year, the government said today and expressed confidence that it would meet the target of 30 per cent coverage by end of the rabi (winter) season.
Early this year, the government had launched a new crop insurance scheme called Pradhan Mantri Fasal Bima Yojana, reducing premiums substantially for both kharif and rabi crops.
The agriculture ministry has set a target to increase the coverage under PMFBY to 30 per cent in the first year itself from the existing 23 per cent in the old schemes.
Releasing the latest data, the agriculture ministry said, "PMFBY launched in the country from Kharif 2016 has made impressive progress in the first season itself. As on date, the scheme has provided coverage to 366.64 lakh farmers (26.50 per cent)."
At this rate, it is likely to exceed the target of 30 per cent coverage for both Kharif and Rabi seasons of the ongoing 2016-17 crop year (July-June), an official statement said.
"In terms of total area covered, the achievement has been significant amounting to a total area of 388.62 lakh hectare and sum insured of Rs 1,41,339 crore," it added.
In the 2016 Kharif season, the performance was better despite the fact that there were some initial issues after the launch.
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