Crop insurance claims for 2020-21 lower by over 60 per cent from previous year

There has been additional than 60 for each cent drop in the crop insurance policy claims of farmers at Rs 9,570 crore below the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the 2020-21 crop calendar year from the preceding calendar year as there ended up no significant crop losses, according to formal knowledge.

Even so, a lot of the crop insurance policy claims reported for 2020-21 and 2019-20 crop decades have been cleared by the government.

Crop insurance policy claims stood at Rs 27,398 crore in the 2019-20 crop calendar year (July-June).

PMFBY was released in 2016-17 with many advancements about the erstwhile crop insurance policy schemes. The operational recommendations of the plan ended up revised with effect from Rabi 2018 and kharif 2020, respectively, to be certain the added benefits arrived at farmers sufficient and well timed.

According to the knowledge, about 445 lakh hectares of farm land was insured by 612 lakh farmers below the PMFBY with a overall sum insured total of Rs 1,93,767 crore throughout 2020-21.

Even so, overall claims reported ended up of Rs 9,570 crore for 2020-21. Out of which, claims reported from the Kharif year ended up Rs 6,779 crore, although from Rabi year Rs 2,792 crore.

“The claims at Rs 9,570 crore for 2020-21 ended up drastically reduced as there ended up no significant losses compared with preceding calendar year,” an Agriculture Ministry stated.

Utmost crop insurance policy claims ended up reported from Rajasthan at Rs three,602 crore, adopted by Maharashtra at Rs 1,232 crore and Haryana at Rs 1,112.8 crore throughout 2020-21.

In the course of the 2019-20 crop calendar year, about 501 lakh hectare was insured by 613 lakh farmers below the PMFBY with a overall sum of Rs 2,19,226 crore.

The claims reported from Kharif year remained higher at Rs 21,496 crore, although from Rabi year at Rs 5,902 crore of the 2019-20 crop calendar year.

Utmost crop insurance policy claims ended up reported from Maharashtra at Rs 6,757 crore, adopted by Madhya Pradesh at Rs 5,992 crore and Rajasthan at Rs 4,921 crore throughout 2020-21.

The formal stated the crop insurance policy claims of farmers for 2019-20 has virtually been cleared. The excellent claims of Rs 1,two hundred crore will be cleared soon.

About Rs 6,845 crore crop insurance policy claims of farmers for 2020-21 has also been cleared, the formal additional.