Latest news with #FasalBimaYojana
United News of India
3 days ago
- Business
- United News of India
Modi prioritised border areas, termed last village as 'first village': Jitendra Singh
Jammu, May 30 (UNI) Union Minister Dr. Jitendra Singh on Friday said that over the last 11 years, Prime Minister Narendra Modi prioritised border areas and sought to do away with the terminology "Last Village" to replace it with "First Village" vision, placing border development at the heart of the nation's a gathering of farmers, youth, and entrepreneurs during "Viksit Krishi Sankalp Abhiyan" in the border area of sector near here, the Minister emphasised that there has been a paradigm shift in the mindset and approach towards the aspirations of citizens in remote and border India's leap from the world's fifth to the fourth largest economy, Jitendra Singh rebuked false narratives of economic downfall due to assertive defence cited Operation Sindoor as a testament to India's balanced approach — maintaining strategic strength while propelling economic growth. 'This rise is a befitting reply to so-called intellectuals who doubted India's capability to sustain economic growth with a robust defence policy,' Dr. Singh asserted, crediting the leadership of PM Modi over the last 11 years for the economic resilience. He quoted Prime Minister Modi's core governance mantra of serving the Women, Poor, Farmers, and Youth, and affirmed that 26 crore citizen have risen above the poverty line over the last decade through initiatives such as Fasal Bima Yojana, Nano Urea, and direct support for marginal farmers, especially in conflict-affected border regions. He also recognised the role of the Ministry of Home Affairs in ensuring insurance coverage for fields exposed to cross-border shelling. Singh referred to the Purple Revolution, spearheaded from Bhaderwah under the Aroma Mission, which has expanded to Himachal Pradesh and Uttarakhand. Singh shared that over 3,000 lavender-based startups are now active, engaging with perfume industries in Mumbai and redefining the concept of agri-entrepreneurship. He also spotlighted tulip cultivation—once seasonal, now being harvested off-season. The CSIR-Srinagar is poised to lead cultivation of saffron and marigold, opening new vistas in floriculture. Underlining the role of cutting-edge science, Dr. Singh announced that biotech-based value addition projects will enhance the shelf life of produce, with a notable rise in apple production and SHG involvement. Jitendra Singh announced the operationalisation of Biotech Industrial Park in Kathua, Biotech Kisan Hub under Aspirational Districts Programme, upcoming AI-based agricultural decision-making system in Srinagar In a landmark announcement, Jitendra Singh revealed that Group Captain Shukla, India's astronaut heading to the International Space Station (ISS) in June, will carry biotech kits for scientific experiments in plant research and seedling growth in the Space milieu, showcasing India's fusion of space science and agriculture. Furthermore, four Agromet Observatories under the Gram Krishi Seva Yojana have been set up in Ladakh, Srinagar, Jammu and Poonch and four new district-level Agromet units launched in Kupwara, Baramulla, Kathua, and Reasi, with support from SKUAST. UNI VBH GNK SSP
Time of India
24-05-2025
- Business
- Time of India
In 8 years, Maha crop insurance premiums 45% more than payout
Mumbai: In a state that has experienced droughts, unseasonal rains and floods wrecking farmland, premiums paid to insurance companies have still outstripped compensation paid to farmers. Tired of too many ads? go ad free now Companies were paid Rs 52,969 crore in premiums between 2016-17 and 2023-24, but payout to farmers totalled Rs 36,350 crore under the PM Fasal Bima Yojana, as per data presented at a review meeting earlier this week. In this 8-year period, 12.8 crore farmers applied for the insurance scheme, of which 6.2 crore received compensation, reports Priyanka Kakodkar Half the farmers in the state who applied for Prime Minister's Fasal Bima Yojana (PMFBY) between 2016-17 and 2023-24 were compensated. This includes for both kharif (monsoon) and rabi (winter) cropping season, as per data presented at a review meeting earlier this week. The premiums were higher than compensation payouts by Rs 16,619 crore in the eight years. Officials say though the state has seen several natural disasters, it has also had many good years with a plentiful monsoon and a high crop yield. And premiums are bound to be higher than insurance payouts in a good year. Officials admit the state's decision to let farmers pay Re 1 to enrol for the PMFBY in March 2023, led to a huge rise in applicants and made it difficult to monitor the scheme. Number of applicants shot up from 1 crore to 2.4 crore between 2022 and 2023. The Rs 1 crop insurance scheme was scrapped last month after a state probe found 5.9 lakh bogus applicants. "When the number of applicants rose, premiums from govt shot up. Then a large number of claims were rejected so number of farmers who received the payout reduced," said a senior official. Tired of too many ads? go ad free now The state has now reverted to the Centre's model where the farmer is charged 1.5% of the sum insured for kharif crops, 2% for rabi crops and 5% for horticulture crops. The state follows a cup and cap model of 80-110 under the PMFBY. This means in a good year, a portion of premium paid will be returned to govt. However, it also caps the insurer's risk. In a bad year, when claims exceed the threshold, govt has to pay the additional liability. Farmer unions, however, allege that the PMFBY design is flawed and leads to profits for insurance companies but a high level of rejected claims from farmers. "The scheme is based on losses within an entire revenue circle. So, if a farmer suffers losses but the revenue circle does not, he does not get compensated," alleged Rajan Kshirsagar from the Akhil Bhartiya Kisan Sabha.
Time of India
23-05-2025
- Business
- Time of India
Crop insurance premiums top payout by 45% in Maharashtra over 8 years
MUMBAI: In Maharashtra, that has experienced droughts, unseasonal rains and floods wrecking farmland, premiums paid to insurance companies have still outstripped compensation paid to farmers. Companies were paid Rs 52,969 crore in premiums between 2016-17 and 2023-24, but payout to farmers totalled Rs 36,350 crore under PM Fasal Bima Yojana, as per data presented at a review meeting earlier this week. In this 8-year period, 12.8 crore farmers applied for the insurance scheme, of which 6.2 crore received compensation. Premiums paid to insurance companies were worth Rs 52,969 crores. Payout from insurers to farmers totalled Rs 36,350 crore, the data shows. Officials say though the state has experienced several natural disasters, it has also had many good years with a plentiful monsoon and a high crop yield.
The Hindu
15-05-2025
- Politics
- The Hindu
Swift action will be taken to resolve farmers' issues: Mysuru DC
Deputy Commissioner G. Lakshmikanth Reddy on Thursday assured that the district administration would take necessary steps to address the concerns of farmers. Presiding over the Mysuru district-level farmers' grievances meeting held at the zilla panchayat auditorium, Mr. Reddy said the 'Har Ghar Jal' initiative, launched by the Ministry of Jal Shakti in 2019 under the Jal Jeevan Mission, aims to provide daily tap water to every rural household by 2024. However, in light of complaints regarding the improper execution of the scheme, the Deputy Commissioner instructed the zilla panchayat officials to ensure all works are carried out strictly as per the guidelines. He also directed officials to maintain RO drinking water units properly. On the financial challenges faced by farmers, Mr. Reddy said many pledge their gold to secure agricultural loans. In reply to the observation, the Lead Bank Manager clarified that all banks operate under the Reserve Bank of India guidelines, and steps will be taken to ensure farmers receive complete and accurate information on loan interest terms and conditions. During the meeting, concerns related to sugarcane cultivation were also raised, with farmer representatives requesting meetings with sugar factory managements under the chairmanship of the district in-charge Minister. In response, Mr. Reddy said the Chunchanakatte Shrirama Sugar Factory will begin operations this year following a new agreement and said that the Bannariyamman Sugar Factory is currently operational. A committee has been formed to look into any issues about its functioning. Mr. Reddy also emphasised that it is the responsibility of the agriculture and horticulture departments to ensure the distribution of quality seeds. He urged farmers to immediately report any instances of the distribution of substandard seeds for swift inspection and corrective action by the authorities concerned. During the meeting, farmer leaders called for the removal of lake encroachments, desilting of lakes to improve water storage capacity, expansion of the PM Fasal Bima Yojana to include horticultural crops, scientific soil fertility testing, and timely dissemination of crop-related information from the agriculture and horticulture departments. Deputy Conservator of Forests K.N. Basavaraj informed that saplings are being planted along roadsides, and scientific methods will be adopted to ensure their proper growth and maintenance. Superintendent of Police Vishnuvardhan, zilla panchayat deputy secretary Krishnamraju, Joint Director of Agriculture Ravi, and several farmer representatives were present.
New Indian Express
15-05-2025
- Business
- New Indian Express
Aim for 15 per cent growth rate in Palnadu, says Lanka Dinakar
GUNTUR: Lanka Dinakar, Chairperson of the State's 20-Point Programme Committee, directed district officials to aim for a 15 per cent growth rate and ensure effective implementation of Central government and State schemes. At a review meeting held at the Joshua Conference Hall in the Collectorate on Wednesday, Lanka Dinakar urged the officials to tap into Palnadu district's tourism potential by promoting spiritual and recreational sites, including Buddhist monasteries and Shaivite temples. He emphasised the need for detailed project reports (DPRs) to attract public investment and stressed alignment with national goals like Viksit Bharat and Swarna Andhra. Reviewing agriculture, housing, and public health sectors, he called for expanding natural farming to 1.25 lakh acres and raising awareness of the Prime Minister Fasal Bima Yojana (PMFBY). Lanka Dinakar criticised delays in National Rural Employment Guarantee Act (NREGA) projects, noting Rs 109 crore spent against a target of Rs 70 crore. He flagged irregularities in infrastructure works and directed immediate action. Palnadu District Collector P Arun Babu emphasised the importance of efficient scheme implementation to address poverty and improve public services.
