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MP Apex Bank gave the benefit of crop insurance to 100% farmers: In Madhya Pradesh, MP Apex Bank has paid 100% crop insurance to the farmers. 

According to the reports released in the media, the farmers of the state, who are members of various PACS organizations, have been provided the benefit of crop insurance in Kharif, 2020 and Rabi 2020-21 due to crop failure.

On coming to the notice that due to technical reasons, the amount of insurance could not be transferred to the accounts of farmers of some district cooperative banks of the state, as per the instructions of the Principal Secretary Cooperative, Government of Madhya Pradesh.

Under the continuous guidance of Madhya Pradesh, the senior officers of Apex Bank reviewed with the officers of district cooperative banks through continuous video conferencing, the amount of crop insurance of Rs 705.17 crore in the accounts of all 3.71 lakh farmers of the state was transferred to the savings of all the farmers.

The benefit of crop insurance has been provided to 100% farmers by depositing them in the accounts.

My Policy Mere Haath program was launched in Madhya Pradesh: The nationwide campaign ‘Meri Policy Mere Haath’ was started on 26 February from Indore (Madhya Pradesh).

It is a great achievement that this campaign has successfully reached 50 lakh farmers with their crop insurance policy in a short span of time, which will be continued in the days to come.

Distribution of insurance policy to farmers in Barmer: Recently, in the Meri Policy Mere Hath program organized during the cattle fair in Barmer district, Union Agriculture Minister Narendra Singh Tomar said that a claim of Rs 1.15 lakh crore has been given to the farmers in PMFBY.

In Mahabhiyan, the policy is being delivered to the farmers. On this occasion, the Union Agriculture Minister distributed crop insurance policy to 15 farmers of Barmer district as a symbol and honored 10 progressive farmers by giving them certificates for their contribution in the agriculture sector.

In February this year, the Chief Minister had distributed compensation for crop loss to the farmers.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan had distributed the assistance amount to the beneficiaries of Pradhan Mantri Fasal Bima Yojana on 12 February 2022. 

Under this, in the program organized in Betul, the Chief Minister had transferred the biggest amount of crop loss in the country to the beneficiaries account with a single click.

For 49 lakh claims of the state under PM Fasal Bima Yojana, Rs 7600 crore was paid to the farmers. This includes claims for Kharif-2020 and Rabi-2020-21 crops.

In giving the benefit of crop insurance to the farmers, the Madhya Pradesh government is no. on one Madhya Pradesh is at the forefront in realizing the dream of making agriculture a profitable business by taking advantage of this ambitious scheme of Prime Minister Narendra Modi.

For the last 5 years, the number of farmers who have benefited from the crop insurance scheme in the state is continuously increasing. The state government wants farmers to get equal benefits of state as well as central schemes.

Progress of crop insurance scheme in Madhya Pradesh so far:

The crop insurance scheme was started in the year 2016-17. Since then till now how many farmers got benefits in the state, its distribution is as follows-

Crop insurance was implemented in 2016-17. In the first year itself, a crop insurance amount of Rs 1,814 crore was distributed to 9 lakh 61 thousand 659 farmers including Rabi and Kharif crops.

In 2019-20, an insurance amount of Rs 6,016 crore was distributed to 25 lakh 46 thousand 649 farmers of the state.

The number of claims for Kharif 2020 and Rabi crops of 2020-21 has reached 49 lakhs. On February 12, 2022, under the Pradhan Mantri Fasal Bima Yojana, Rs 7600 crore was paid to the farmers for 49 lakh claims of the state.

This includes claims for Kharif-2020 and Rabi-2020-21 crops.

What is PM Fasal Bima Yojana (Pradhan Mantri Fasal Bima Yojana): PM Kisan Fasal Bima Yojana was started on 13 January 2016 by the Central Government to compensate the farmers for the loss of crops due to natural calamity. 

Under this scheme, farmers are insured at the rate of only 2 percent for Kharif crops and 1.5 percent for all Rabi crops. 

Whereas in case of annual commercial and horticultural crops, the premium has been kept at only 5 per cent. 

The rates of premium to be paid by the farmers are very less and the balance premium will be paid by the government so that the full sum insured is provided to the farmers for crop loss in any kind of natural calamities.

There is no upper limit on government subsidy under this scheme. Even if the remaining premium is 90 per cent, it will be borne by the government. 

It should be noted that earlier, there was a provision of capping the premium rate so that the farmers would have to pay less claim.

Now this has been removed and farmers will get the claim of full sum assured without any deduction.