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3.26cr farmers enroll for crop insurance in 2016 kharif season

Press Trust of India  |  New Delhi 

About 326 lakh farmers have been covered under the new crop scheme for a sum insured of Rs 1.37 lakh crore during the 2016 kharif sowing season, said today.

"As per tentative data available, during kharif 2016 about 326 lakh farmers have been insured covering an area of 380 lakh hectare for sum insured of Rs 1,37,535 crore as compared to 309 lakh farmers during kharif 2015 season covering an area of 339 lakh hectare for sum insured of Rs 69,307 crore," Agriculture Minister Radha said in Lok Sabha.


He said there is an increase of about 5.5 per cent in farmers covered, 12 per cent in the area covered and about 100 per cent in the sum insured during first season of implementation of Pradhan Mantri Fasal Bima (PMFBY) and Restructured Weather Based Crop Scheme (WBCIS) itself as compared to the kharif 2015 season.

Singh further said, the aims to enhance the area under PMFBY and WBCIS up to 50 per cnet of the gross cropped area within next 2-3 years.

"...During 2016-17, a budget provision of Rs 5,501.15 crore was made for implementation of PMFBY/WBCIS and meeting the liabilities under erstwhile schemes.

"However, based on the tentative demand received from implementing companies, additional resources by way of supplementary demand has been provided and Rs 7,955 crore has already been released," Singh said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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