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PM Crop Insurance Scheme paid ₹3,900 crore to protect 35 lakh farmers from crop losses this year

PM Crop Insurance Scheme
PM Crop Insurance Scheme

Union Minister for Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, today digitally transferred ₹3,900 crore in crop insurance payouts directly to the bank accounts of 3.5 million farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The programme was held in Jhunjhunu, Rajasthan, in the presence of Rajasthan Chief Minister Shri Bhajanlal Sharma, Minister of State for Agriculture Shri Bhagirath Chaudhary, and Rajasthan Agriculture Minister Dr. Kirodi Lal Meena. Millions of farmers from across the country also joined the event virtually.

Addressing the gathering, Shri Chouhan said that under the leadership of Prime Minister Shri Narendra Modi, unprecedented steps have been taken for farmers’ welfare. Earlier, insurance compensation was granted only when crops in an entire tehsil or block were destroyed; now, even if the crop of a single farmer in a village is damaged, compensation is provided.

Massive Financial Support and Subsidized Fertilizers:

Shri Chouhan informed that since the launch of PMFBY in 2016, ₹2.12 lakh crore has been paid to farmers. Under the PM-Kisan Samman Nidhi, ₹3.75 lakh crore has been directly transferred to farmers’ accounts. The government has also extended ₹14.06 lakh crore in fertiliser subsidies to make inputs affordable. For example, a 45 kg bag of urea is sold to farmers at ₹266, against its actual price of ₹1,633.24, while a 50 kg bag of DAP (Diammonium Phosphate) costs ₹1,350 instead of its actual price of ₹3,100.

Higher MSP and Greater Procurement Support:

The Minister highlighted that the Minimum Support Price (MSP) has been set at 50% above the cost of production. The government has decided to procure moong at ₹2,000 per quintal. Under the PM-AASHA scheme, ₹43.87 lakh crore has been paid for wheat and paddy procurement. Through the Market Intervention Scheme (MIP), farmers can sell their produce in other states, with the government covering transportation costs.

Crackdown on Fake Fertilizers and Scientific Support for Farmers:

To curb counterfeit fertilizers, the government is introducing a stringent law with provisions for strict punishment and imprisonment. In cases of crop diseases, if farmers share information or photographs, a team of scientists will promptly visit the affected village to provide assistance.

Scientific Outreach under Viksit Krishi Sankalp Abhiyan:

Shri Chouhan announced that after the Kharif season, under the Viksit Krishi Sankalp Abhiyan, teams of agricultural scientists will visit villages during the Rabi season to share best farming practices, research insights, and high-quality seeds for crops like moong, urad, soybean, and millets. He reaffirmed that under Prime Minister Modi’s leadership, farmers’ interests remain paramount and will never be compromised.

Read More- Government Launches 2661 Climate-Resilient Crop Varieties for Farmers

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