Ad
Ad
Ad
Good news for farmers: the state government has approved Rs 1700 crore for crop compensation. This amount will be distributed among the farmers whose crops were damaged due to rain in 2023. About 22.74 lakh farmers will receive compensation for their losses from January to October 2023.
Last year, heavy rain in August damaged most of the Kharif crops in Maharashtra. Initially, 50 lakh farmers received 25% compensation under the Pradhan Mantri Fasal Beema Yojana (PMFBY), amounting to Rs 2200 crore. However, the remaining 75% of the compensation still needs to be paid, leaving farmers in financial distress. The new compensation amount approved by the state government aims to provide relief to these farmers.
Under PMFBY, compensation is given if crop failure lasts for more than 21 days and there is a 50% decline in production. The Agriculture Department conducts crop-cutting experiments to determine average production. If production is lower, insurance companies pay the remaining compensation after deducting the 25% advance.
In Maharashtra, farmers can insure their crops for just one rupee under the PM Crop Insurance Scheme 2024. The state government pays the insurance premium on behalf of the farmers, making it affordable for them to insure their crops like paddy, maize, millet, and more. The last date for insuring Kharif crops is July 15, 2024.
According to the Economic Survey Report 2023-24, Maharashtra's economy is expected to grow by 7.6% in line with the Indian economy. The agriculture sector is expected to grow by 1.9%, the industry sector by 7.6%, and the service sector by 8.8%. The state's average share in the all-India GDP is the highest at 13.9%.
Shiv Sena (UTB) leader Uddhav Thackeray raised the issue of farmer suicides, stating that on average, nine farmers commit suicide daily in Maharashtra. He demanded the state government waive the pending agricultural loans of Rs 10,022 crore before the elections to provide much-needed relief to the farmers.
Uddhav Thackeray also suggested that welfare schemes like the Ladli Bahana Yojana, which benefits girls, should be extended to boys. He believes that both girls and boys should receive equal benefits from such schemes.
Also Read: Farmtrac Launches Advanced Worldmaxx Tractor Series with Six Variants
The state government's approval of Rs 1700 crore in crop compensation offers crucial relief to 22.74 lakh farmers affected by rain in 2023. This initiative, along with affordable crop insurance, aims to mitigate farmer’s financial struggles. With the agriculture sector expected to grow by 1.9%, and calls for additional support, the government's measures are vital for enhancing the livelihoods and economic stability of Maharashtra's farmers.
Government to Distribute 4,000 Tractors to Farmers Under New Scheme
The Chief Minister Tractor Distribution Scheme provides farmers with subsidized tractors and equipment, enhancing agricultural productivity and support....
11-Sep-24 11:08 AM
Read Full NewsAutoNxt Aims to Revolutionize Indian Farming with Commercial Electric Tractors and Advanced Technology
AutoNxt introduces India’s first electric tractors, offering a sustainable, cost-effective alternative to diesel with advanced technology and fast charging....
09-Sep-24 01:04 PM
Read Full NewsSwaraj Tractors Honored with CSR Award for 'Project Pani' by Rajasthan Government
Swaraj Tractors' 'Project Pani' won a CSR award for installing rainwater tanks in schools, benefiting 18,000 students in Rajasthan....
09-Sep-24 10:34 AM
Read Full NewsSonalika Tractor Sales Cross 15% Market Share in August 2024 | Strong Growth & Festive Season Outlook
Sonalika achieved a 15.5% market share in August 2024, driven by advanced technology and growing farmer trust....
06-Sep-24 07:16 AM
Read Full NewsRetail Tractor Sales Report for August 2024: A Decline of 11.39%
The Indian tractor market saw shifts in August 2024, with Mahindra & Mahindra leading, while others faced competitive challenges....
05-Sep-24 07:38 AM
Read Full NewsAgricultural Equipment Subsidy Scheme 2024: 50% Subsidy on Modern Farm Equipment – Apply Here
Get up to 50% subsidy on modern agricultural equipment under the Krishi Yantra Anudan Yojana 2024. Apply by 13 September 2024....
04-Sep-24 05:26 AM
Read Full NewsAd
Ad
Mahindra 575 DI XP Plus vs Swaraj 744 FE: A Detailed Tractor Comparison
13-Sep-2024
6 Features to Consider When Buying a Tractor: Beyond HP, Cylinders, and Price
11-Sep-2024
Top 10 Tractor Loan Providing Companies in India for Farmers in 2024
10-Sep-2024
Top 10 Fastest Growing Cash Crops to Maximize Profits on Your Farm
05-Sep-2024
Top 10 Swaraj Tractors in Rajasthan - Best Models for Efficient Farming
04-Sep-2024
Top 5 Tips for Purchasing a Compact Tractor: A Guide for Beginners
30-Aug-2024
View All Articles
As featured on:
Registered Office Address
Delente Technologies Pvt. Ltd.
M3M Cosmopolitan, 12th Cosmopolitan,
Golf Course Ext Rd, Sector 66, Gurugram, Haryana
pincode - 122002