The number of farmers opting for the ‘Pradhan Mantri Fasal Bima Yojana’ this year is likely to cross four crore as compared to three crore last year, claimed Union Agriculture Minister Radha Mohan Singh.
"The scheme aims to make agricultural practice risk-free for the farmers, but the leaders in order to serve their own political agenda are not able to comprehend it."
“Earlier, crop insurance schemes profited insurance companies and farmers were not compensated for the losses due to crop damage caused by natural calamities after the harvest. Besides, premium rates differed according to location," he said.
But, this scheme is farmer-friendly. The farmers are required to pay only minimal premium and can claim compensation for losses caused by natural calamities up to 14 days after the harvest, Singh said.
He said around 200 mandis will be covered under the scheme by next month. Around 400 mandis will be available online by March next year and 585 mandis to go online by 2018, he added.