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Agriculture: Issues (Handicaps (sum insured are closer to the cost
of…
Agriculture: Issues
PMFBY
Main features
Premium to be paid by farmers restricted to
-2% for kharif crops
-1.5% for Rabi crops
-5% for horticulture and commercial crops
Premium to be paid by ffarmers is kept very low. But balance amount will be paid by central and respective stae govt
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It will also provide coverage to localised risks of
hailst orms, landslides and inundat ion as well as post harvest losses of cyclonic and unseasonal rains
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PMFBY will cover 40% of area by
2017-18 and 50% by 2018-19.
-But there was slide in terms of area coverage from 2016-17
There has been drop in enrolment for PMFBY in KA-42%, RJ-34% and so on
Merits
more farmer friendly, sum insured are closer to the cost
of production
Scheme's linkage with parallel schemes such as Jan dhan yojana and Digital India makes it a truly inclusive and welfare based scheme
Has coverage for 5.7 cr farmers, sum insured crossed 2 lakh crore
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