The Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar on Friday, July 21, approved the insurance claims made by over 56 lakh farmers and released an amount of over Rs 258 crores. For over a long time the subsidy premiums were not being paid and claims were lying pending.
The announcement was made during the launch of the the 'Wind Portal App' under the Pradhan Mantri Fasal Bima Yojana at the Hotel Shangrila, Connaught Place in New Delhi on July 21, 2023. These insurance claims were pending for years.
About Pradhan Mantri Fasal Bima Yojana
The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched in 2016. PMFBY is a large-scale crop subsidy insurance scheme which aims to safeguard farmers. This scheme replaces the National Agricultural Insurance Scheme (MNAIS) and designed in line with the One Nation–One Scheme. The scheme provides coverage for the entire cropping cycle from pre-sowing to post-harvest and midseason adversities.
It extends coverage against financial losses incurred by farmers due to unforeseeable events such as crop failure due to localised risk, post-harvest losses, natural calamities, unseasonal rainfall, crop diseases and pest infestations. The primary goal of the initiative is to reduce the burden of insurance premiums on farmers and ensure early settlement of claims.
