PM Fasal Bima Yojana : Today there is great news for 30 lakh farmers of the country . Under the Pradhan Mantri Fasal Bima Yojana , the payment of the first installment of Rabi season 2024-25 is being made today . Union Agriculture Minister Shivraj Singh Chouhan will transfer the money of this scheme to the bank accounts of farmers from Jhunjhunu, Rajasthan . This program is important not only for the farmers of Rajasthan but the entire country. In this, farmers from 23 states will join through virtual medium and about 35,000 farmers will be present on the spot.
Money will come in the bank account of farmers
This time, about 30 lakh farmers are getting a total insurance claim of Rs 3,200 crore . This amount will be sent directly to the farmers ‘ bank accounts through Direct Benefit Transfer ( DBT) . However , this is just the first installment and those farmers who have claimed insurance. But those whose account does not get the amount today, they will soon be paid in the second installment .
For which reasons is cover provided
This insurance scheme works as a safety shield for farmers . If the crop is damaged due to natural calamities, hailstorm, excess or less rain, frost or other reasons during the Rabi winter crop, then farmers can get compensation under this scheme. Farmers have to pay only 1.5% premium for Rabi crop and 2% premium for Kharif crop, while the balance amount is borne by the central and state governments together.
The aim of this scheme is to reduce the risk of farming and provide financial security to farmers. The special thing is that this payment reaches the account directly in the same way as it happens in the PM Kisan Samman Nidhi Yojana . In the beginning of August , Prime Minister Narendra Modi gave an amount of Rs 2,000 to 9.7 crore farmers as the 20th installment of PM Kisan Samman Nidhi , and now after a few days , farmers are getting another relief.
The farmers who are getting the amount today are the ones who had insured their Rabi crop . After the crop was damaged, they had filed a claim with the insurance company . This step of the government will provide financial help to lakhs of farmers. They will be able to prepare for the next crop.
The scheme was started in 2016
According to the Agriculture Ministry, this payment is not just a formality but a concrete step towards protecting the interests of farmers. This scheme is proving to be very beneficial for farmers to reduce the impact of natural disasters. The Pradhan Mantri Fasal Bima Yojana was started in 2016 and since then crores of farmers have benefited from it .