-Down to Earth Since its launch in 2016, India’s flagship crop insurance scheme has seen a consistent fall in acreage and number of farmers covered Even if a single farmer’s crop is damaged in a village he will get the benefits of insurance - Prime Minister Narendra Modi had said while launching the government’s flagship Pradhan Mantri Fasal Bima Yojana (PMFBY) from Madhya Pradesh in 2016. The words, however, mean nothing to the farmers...
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Maharashtra may become 8th state to opt out of Centre's flagship crop insurance scheme -Shagun
-Down to Earth The state is considering rolling out its own insurance programme for farmers Maharashtra may follow several other big states and opt out Pradhan Mantri Fasal Bima Yojana (PMFBY), the Narendra Modi government’s much-vaunted crop insurance scheme. India’s second-most populous state may replace the central scheme with its own — a step already adopted by states like West Bengal. Farmer groups have already flagged irregularities in PMFBY at a February 1,...
More »The Ailing PM Fasal Bima Yojana Needs a Structural Redesign -Baikunth Roy and Satyendra Kumar
-TheWire.in Despite increasing allocated funds, the Union government has been unable to significantly improve penetration of crop insurance in terms of enrolled farmers and insured areas. India’s agriculture sector, which provides employment to more than 50% of the labour force and contributes about 17% of the gross domestic product, currently faces multiple challenges. Smaller land holdings, unfavourable climate changes events, dismal public and private investment, low monthly incomes, a high proportion of...
More »A cutback in PMFBY funding may further affect the timely release of compensation for crop failures
On February 18, 2016, India’s Prime Minister Shri Narendra Modi launched the Pradhan Mantri Fasal Bima Yojana. After its launch, the PMFBY was implemented by 21 states during kharif 2016, whereas in rabi 2016-17, 23 states and 2 UTs implemented the same. The Central Government launched the PMFBY in the kharif season of 2016 with the intention to help farmers cope with crop losses because of unseasonal and extreme weather....
More »Union budget 2022-23: Big cut in fertilisers subsidy to worry farmers -Bhagirath
-Down to Earth Urea subsidy cut 17%; allocation for NPK subsidy reduced 35% Amid acute shortage of fertilisers in India, Union finance minister Nirmala Sitharaman February 1, 2022, reduced subsidy on urea and nutrient-based (NPK) fertilisers. The move is expected to adversely hit the ailing farm sector. The Rs 63,222.32 crore allocation for urea subsidy in her Budget for 2022-23 was 17 per cent lower than the revised estimates (RE) for 2021-22. Another...
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