PMFBY: Good news for Indian Farmers. On Saturday, there was exciting news for numerous farmers nationwide as Prime Minister Narendra Modi announced the 23rd installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Tarakeswar in Hooghly district, West Bengal. The scheme involved a direct transfer of Rs 18,880 crore to the bank accounts of more than 9.44 crore farmers through Direct Benefit Transfer (DBT). Additionally, PM Modi introduced the Pradhan Mantri Fasal Bima Yojana (PMFBY) in West Bengal, which is touted as the world’s largest crop insurance program, safeguarding farmers from losses due to natural calamities.
Government statistics indicate that around 5 million farmers in West Bengal will benefit from the PMFBY by 2026-27, covering approximately 1.4 million hectares of agricultural land with an insured crop value surpassing ₹28,140 crore. The government will subsidize a significant portion of the farmers’ premiums, offering them comprehensive insurance coverage at an affordable rate.
During the Tarakeswar event, PM Modi highlighted that new initiatives in agriculture, transportation, and fisheries will boost Bengal’s development, enhancing the rural economy and generating new opportunities for farming communities. Furthermore, the Prime Minister launched various programs to modernize the agricultural sector, such as Agri Stack, the National Mission on Natural Farming, and the Pradhan Mantri Dhan Dhanya Krishi Yojana, intending to integrate farmers with technology, reduce farming expenses, and enhance productivity.
At the same event, PM Modi inaugurated and laid the foundation for multiple railway and road infrastructure projects, including the Sankrail-Santragachi Link Line project, a railway venture worth approximately Rs 590 crore, a 300-bed railway hospital in Howrah, and a road overbridge in Purba Medinipur. Additionally, 49 road projects under the Pradhan Mantri Gram Sadak Yojana (PMGSY-III) were unveiled, totaling over 315 kilometers to enhance rural connectivity and ease the transportation of agricultural goods to markets. This visit by PM Modi is seen as a significant stride towards empowering farmers, rural progress, and infrastructure development, with the new PM-KISAN installments and crop insurance scheme poised to directly assist millions of farmers.