Pradhan Mantri Fasal Bima Yojana: Rs 2595 Crore Released, Compensation Soon

Key Highlights

• Rs 2595 crore released for farmers under PMFBY.

• Compensation distributed for Rabi 2023–24 and Kharif 2023 crops.

• Over Rs 1012.10 crore given for Rabi, Rs 1583.53 crore for Kharif.

• Farmers must report crop loss within 72 hours for claims.

• Pending claims will be settled soon through insurance companies.

The Central Government has released Rs 2595 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to help farmers facing crop losses due to natural disasters. This scheme provides financial support to farmers affected by untimely rains, floods, hailstorms, and other calamities.

Also Read: Farmers in Rajasthan to Receive Crop Insurance Claims Worth Rs 78 Crore Soon Under Pradhan Mantri Fasal Bima Yojana

Compensation for Rabi and Kharif Crops

Under PMFBY, farmers who insure their crops receive compensation for losses. The government has started distributing insurance claims for Rabi 2023–24 and Kharif 2023 crops in Rajasthan.

Industry Minister KK Vishnoi informed the Rajasthan Legislative Assembly that the insurance company has paid Rs 1012.10 crore to farmers for Rabi 2023–24, with pending amounts to be disbursed soon. Additionally, Rs 1583.53 crore has been distributed for Kharif 2023.

Distribution in Different Regions

• Nagaur District: Rs 207.56 crore was distributed to 1,91,735 policyholders for Kharif 2023.

• Rabi 2023–24: Rs 52.19 crore was given to 44,625 farmers.

• Anupgarh Constituency: Rs 22 lakh was distributed to 289 farmers. Another Rs 1.39 crore is in process for 57 farmers.

Crop Insurance Coverage in Rajasthan

The scheme covers various crops:

• Kharif Season: Bajra, jowar, maize, moong, tur, urad, soybean, paddy, cotton, and groundnut.

• Rabi Season: Wheat, barley, mustard, cumin, coriander, lentils, and fenugreek.

Conditions for Insurance Claims

Farmers can claim insurance for losses due to:

• Local Calamities: Hailstorms, earthquakes, floods, cloudbursts, or lightning.

• Failure to Sow or Harvest: Due to insufficient rainfall or adverse weather.

• Standing Crops: Damage caused by drought, floods, pest attacks, and storms.

• Post-Harvest Losses: Damage within 14 days of harvest due to cyclonic rains or hailstorms.

How to Claim Insurance

Farmers must report crop loss within 72 hours to the insurance company oragriculturedepartment. A survey is conducted before the insurance company releases the compensation.

The government assures that pending claims will be settled soon in coordination with insurance companies.

Also Read: Farmers to Get Fair Compensation with New Circle Rate Revision

CMV360 Says

The Pradhan Mantri Fasal Bima Yojana is a crucial scheme for farmers, providing financial protection against crop losses due to natural disasters. With Rs 2595 crore already released, more farmers will soon receive their compensation. The government continues to ensure timely payouts and smooth claim processing to support agricultural sustainability.