new Delhi : Prime Minister Narendra Modi has congratulated the beneficiaries of this scheme on completion of 5 years of ‘PM Crop Insurance Scheme’. He said, “The PM Crop Insurance Scheme has completed 5 years today, an important initiative to protect hardworking farmers from the ups and downs of nature. The scheme has increased coverage, reduced risk and has benefited crores of farmers. I congratulate all the beneficiaries of the scheme ”.
Let me tell you, on January 13, the Central Government’s crop insurance scheme has completed 5 years. The Government of India took the Prime Minister Crop Insurance Scheme (PMFBY) on 13 January 2016, taking an important decision on 13 January 2016 to strengthen the risk coverage of crops for the country’s farmers.
Significantly, every year some natural calamity comes in the country. Sometimes an area has to face more rain, then there is no rain throughout the year. Due to this, crops of millions of our farmers are wasted. Farmers suffer heavy economic losses due to crop failure due to storms and hail storms. To compensate the loss due to these natural calamities of the farmers, the government started the PM Crop Insurance Scheme. Under this scheme, the crop of the farmers is insured, under which the premiums have to be borne equally by the states and the Government of India in addition to the share of the farmer. Whereas the Government of India pays 90 percent of the premium in the North Eastern states.