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LATEST NEWS UPDATES | 26.5% farmers sought coverage under PM's crop insurance scheme -Madhvi Sally

26.5% farmers sought coverage under PM's crop insurance scheme -Madhvi Sally

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published Published on Dec 9, 2016   modified Modified on Dec 9, 2016
-The Economic Times

NEW DELHI: The Pradhan Mantri Fasal Bima Yojana (PMFBY) launched during the 2016 kharif season to help farmers insure their crops against natural calamities has provided coverage to 366.64 lakh farmers (26.50%), the agriculture ministry has said.

The ministry expects the scheme to exceed the target of 30% coverage for both kharif and rabi seasons in 2016-17.

The scheme covers 388.62 lakh hectare with sum insured of Rs 1, 41,339 crore. The scheme was recast as a new scheme by the government since two existing insurance schemes were not meeting the full requirements of farmers for insurance coverage, the ministry said in a statement on Wednesday.

“The performance this season has improved by 18.50% in terms of farmers coverage, 15% in terms of area coverage and 104% in terms of sum insured in comparison to Kharif 2015, which happened to be one of the worst drought affected seasons when the number of farmers covered was 309 lakh (22.33%), total area coverage was 339 lakh hectrae and sum insured was Rs 69,307 crore,” the statement said.

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The Economic Times, 7 December, 2016, http://economictimes.indiatimes.com/news/economy/agriculture/26-5-farmers-sought-coverage-under-pms-crop-insurance-scheme/articleshow/55857529.cms


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