Question raised in Lok Sabha on Crop Insurance Schemes, 19/07/2016
Question raised in Lok Sabha on Crop Insurance Schemes, 19/07/2016. Government has recently reviewed the existing crop insurance schemes in consultation with various stakeholders including States, farmer organisations, insurance companies etc. The major issues identified in the existing \ crop insurance schemes were high premium rates to be paid by farmers, different premium rates in neighbouring districts, capping on premium resulting in reduction in sum insured and lesser claims for farmers, delay in settlement of claims, less use of improved technologies etc. Based on the discussions held with stakeholders, Government of India has approved Pradhan Mantri Fasal Bima Yojana (PMFBY) which replaced the existing schemes of National Agricultural Insurance Scheme (NAIS) & Modified National Agricultural Insurance Scheme (MNAIS) from current Kharif 2016 season. All the major issues enumerated above have been addressed in the PMFBY. Salient features of the scheme are Annexed.