According to the report, the government urged the farming community to take advantage of Pradhan Mantri Fasal Bima Yojana(PMFBY), which has completed 5 years. The government prospects in order to become " self-reliant". Rs 90,000 crore have so far been disbursed to farmers since the launch of the scheme on January 13, 2016, said by the Union agriculture ministry
Even in the tough situation of Covid 19 the period last year 2020, Rs 8,741.30 crore was transferred to 70 Lac farmers said by the agricultural ministry.
The Ministry also said that "The Government of India urges farmers to take advantage of the scheme by associating themselves to become self-sufficient in times of crisis and support the creation of an Aatmanirbhar Kisan,"
The farmers are protected by the commitment of the government. Over 5.5 crore farmer applications year-on-year were covered under the scheme. The speedy claim settlement directly into the farmer accounts was helped by the Aadhar seeding said by the Ministry.
After the implementation of the scheme from February 2020, the scheme was made voluntary for all farmers. The states have been provided flexibility to rationalize the sum insured so adequate profit may be availed by farmers.
To provide a comprehensive risk solution at the lowest uniform premium across the country for farmers, the PMFBY was conceived as a milestone initiative.
The state and the central government has equally subsidized premium cost over and above the farmer share, under the scheme. For northeastern states to promote the uptake in the region, the Centre's share is 90 percent of the premium subsidy.
Rs 15,000 per hectare average sum insured during the pre-PMFBY schemes to Rs 40,700 under PMFBY.
From pre-sowing to post-harvesting, the scheme extends coverage for the entire cropping cycle, losses arising out of prevented sowing and mid-season adversities is end-to-end risk mitigation.
Localized calamities are aroused for Individual farm-level losses. Post-harvest losses are also covered due to perils such as cloudburst inundation, and natural fire.
The government has put some examples of states like Andhra Pradesh and Karnataka crop insurance covers are prevented sowing claims over Rs 500 crore during the Kharif 2019 dry spell, and localized calamity claims of over Rs 100 crore in Haryana during Kharif 2018 hailstorm.
Rajasthan during rabi 2019-20 locust attack of nearly Rs 30 crore, in 2019 Kharif season Maharashtra also suffered an unseasonal rainfall and mid-season adversity claims are also other examples.
This scheme provides various benefits to the farmers like crop insurance mobile app for easy enrolment of farmers and usage of technology such as satellite imagery, remote-sensing technology, drones, artificial intelligence and machine learning to assess crop are essential features.
For farmers, the scheme makes it easier to report crop loss within 72 hours of the occurrence of any event through the crop insurance app, common service center, or the nearest agriculture officer.
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