New Delhi, Dec 10 (SocialNews.XYZ) The number of farmers covered under Pradhan Mantri Fasal Bima Yojana (PMFBY) has touched the figure of 1,428.26 lakh in 2023-24, more than double of 617.33 lakh in 2019-20, the Union government said in Parliament on Tuesday.
Union Agriculture and Farmers' Welfare Minister Shivraj Singh Chouhan, in a written reply, said the area insured under the scheme stood at 602.35 lakh hectares in 2023-24 as compared to 572.04 lakh hectares in 2019-20.
Replying to questions from Sandipanrao Bhumare and Gyaneshwar Patil, the Minister said that PMFBY introduced in the country in 2016 Kharif season is voluntary for states as well as farmers.
As per provisions of the scheme, farmer's share in premium has been capped at two per cent during the Kharif season and 1.5 per cent for the Rabi season for food and oilseed crops, and five per cent for commercial/horticultural crops (both Kharif and Rabi seasons), Minister Chouhan said in Lok Sabha.
The remaining share of the premium is shared by the Central and state governments on a 50:50 basis except for Northeastern states and Himalayan states, where it is shared in the ratio of 90:10 with certain conditions.
Some states have also decided to give farmer's share of the premium from the state budget, said the Minister.
In response to a separate question, Minister Chouhan enlisted some of the need-based interventions made by the government in its 100-day programme so that farmers' income may be increased.
Some of the recent changes in the Agriculture Trade Policy include the decision to remove the Minimum Export Price altogether for onions.
The decision is expected to free exports, as is the move to cut the export duty from 40 to 20 per cent, the Minister said.
The decision to scrap the $950 per metric tonne Minimum Export Price of Basmati rice will now enable the rice farmers to recover the best price for premier products.
The recent decision to increase the effective import duty on crude oil (Palm, Soya, and Sunflower) from 5.5 to 27.5 per cent, and on refined oil from 13.75 to 35.75 per cent is also going to benefit farmers, Minister Chouhan added.
Source: IANS
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