03/10/2022

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Crop insurance claims for 2020-21 lower by over 60 per cent from previous year

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There has been more than 60 for every cent decrease in the crop insurance policies statements of farmers at Rs 9,570 crore underneath the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the 2020-21 crop year from the earlier year as there were being no big crop losses, according to official knowledge.

Nonetheless, considerably of the crop insurance policies statements claimed for 2020-21 and 2019-20 crop many years have been cleared by the govt.

Crop insurance policies statements stood at Rs 27,398 crore in the 2019-20 crop year (July-June).

PMFBY was released in 2016-17 with many advancements more than the erstwhile crop insurance policies techniques. The operational guidelines of the plan were being revised with effect from Rabi 2018 and kharif 2020, respectively, to guarantee the benefits achieved farmers adequate and well timed.

According to the knowledge, about 445 lakh hectares of farm land was insured by 612 lakh farmers underneath the PMFBY with a total sum insured total of Rs 1,93,767 crore throughout 2020-21.

Nonetheless, total statements claimed were being of Rs 9,570 crore for 2020-21. Out of which, statements claimed from the Kharif year were being Rs six,779 crore, when from Rabi year Rs two,792 crore.

“The statements at Rs 9,570 crore for 2020-21 were being significantly reduce as there were being no big losses as opposed to earlier year,” an Agriculture Ministry explained.

Maximum crop insurance policies statements were being claimed from Rajasthan at Rs 3,602 crore, adopted by Maharashtra at Rs 1,232 crore and Haryana at Rs 1,112.eight crore throughout 2020-21.

All through the 2019-20 crop year, about 501 lakh hectare was insured by 613 lakh farmers underneath the PMFBY with a total sum of Rs two,19,226 crore.

The statements claimed from Kharif year remained bigger at Rs 21,496 crore, when from Rabi year at Rs 5,902 crore of the 2019-20 crop year.

Maximum crop insurance policies statements were being claimed from Maharashtra at Rs six,757 crore, adopted by Madhya Pradesh at Rs 5,992 crore and Rajasthan at Rs four,921 crore throughout 2020-21.

The official explained the crop insurance policies statements of farmers for 2019-20 has nearly been cleared. The superb statements of Rs 1,200 crore will be cleared soon.

About Rs six,845 crore crop insurance policies statements of farmers for 2020-21 has also been cleared, the official extra.

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