 "Modi’s flagship Fasal Bima premium mop up to touch Rs 23,000 cr in FY18")
With the Narendra Modi government vigourously pushing its flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), the general insurance industry is expecting total premium income from the space to touch Rs 23,000 crore during the current 2017-18 financial year.
This would be a 400 per cent hike in the mop of premium from crop insurance from Rs 5,700 crore during 2015-16, when the scope of the scheme was limited. The premium income had risen to Rs 21,500 crore last year (2016-17) with the Modi dispensation expanding the purview and reach of PMFBY.
The premium payment towards Fasal Bima scheme is shared
