SunstarTV Bureau: The Pradhan Mantri Fasal Bima Yojana or (PMFBY) has successfully completed 5 years of its operation. The government took a historic step towards strengthening the risk coverage of crops for farmers and approved the scheme on 13th January, 2016.
Prime Minister Narendra Modi has said that PMFBY is an important initiative to secure hardworking farmers from the vagaries of nature. Congratulating all beneficiaries on completion of its five years, the Prime Minister added that the scheme has increased the coverage, mitigated risk and benefited cores of farmers in the country.
An important initiative to secure hardworking farmers from the vagaries of nature, PM Fasal Bima Yojana completes 5 years today. The Yojana has increased coverage, mitigated risk & benefitted crores of farmers. I congratulate all beneficiaries of the scheme. #FasalBima4SafalKisan
— Narendra Modi (@narendramodi) January 13, 2021
Home Minister, Amit Shah also hailed the success of the visionary scheme which was initiated by PM five years ago.
He said, PMFBY has been able to ensure the income of the farmers by giving them crop-insurance cover even after the harvest. Mr. Shah emphatically asserted that Prime Minister Narendra Modi and the Centre is committed to making farming easy as well as profitable for the farmers in the country.
The scheme was conceived as a milestone initiative to provide a comprehensive risk solution at the lowest uniform premium across the country for farmers. In the scheme, premium cost over and above the farmer share is equally subsidized by the Centre and States. The Agriculture Ministry has said that the average sum insured per hectare has increased from 15 thousand 100 during the pre-PMFBY Schemes to 40 thousand 700 under PMFBY. The Ministry has urged the farming community to take advantage of the scheme in order to become self-reliant farmers. Claims worth 90,000 core rupees have so far been disbursed to farmers since the launch of the scheme.
