Agriculture

Govt targets to double crop insurance coverage under Pradhan Mantri Fasal Bima Yojana

The scheme will be implemented in the country effective from April 1
Govt targets to double crop insurance coverage under Pradhan Mantri Fasal Bima Yojana

Government is aiming to double the insurance coverage under crop insurance through Pradhan Mantri Fasal Bima Yojana (PMFBY) in next few years, a senior government official said.

The scheme will be implemented in the country effective from April 1.

"The government is targeting to double the crop insurance coverage in the country through Pradhan Mantri Fasal Bima Yojana in a couple of years," joint secretary ministry of agriculture and farmer’s welfare Ashish Kumar Bhutani said while addressing an event organised by GIC Re.

"As of now, 23 per cent of the country’s total farmer population is covered under various existing crop insurance schemes. However, the government is looking at taking it to more than 50 per cent through the PMFBY in next two years," he said.

As of now it is mandatory for the loanee farmers to go for crop insurance. However, the government’s focus will be to bring more and more non-loanee farmers, which comprise merely 5 per cent of total farmers at present, under the scheme in future, he said. 

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