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India.com
6 days ago
- Business
- India.com
Over 22 Crore Farmers Receive Rs 1.83 Lakh Crore Compensation Under PMFBY Since 2016
New Delhi: Since its launch in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) has insured 78.41 crore farmer applications up to June 30, 2025. During this period, around 22.67 crore farmers have received compensation amounting to Rs 1.83 lakh crore, highlighting the scheme's wide reach and impact in supporting farmers against crop loss, informed Ramnath Thakur, Minister of State for Agriculture and Farmers Welfare in a written reply to Rajya Sabha on August 1. Pradhan Mantri Fasal Bima Yojana on February 18, 2025 , completed nine years of its launch. Launched in 2016 by Prime Minister Narendra Modi, the scheme provides a comprehensive shield against crop losses caused by unforeseen natural hazards. This protection not only stabilises farmers' income but also encourages them to adopt new practices. Crop insurance is an important risk mitigation measure to protect farmers from natural calamities. Its purpose is to provide financial assistance to farmers suffering from crop loss/damage due to natural calamities such as hailstorm , drought , flood , cyclone , heavy and unseasonal rains , disease and pest attacks etc. MoS further apprised the house about the steps undertaken by the government to strengthen implementation of this scheme, according to Ministry of Agriculture & Farmers Welfare. Among the various steps, development of National Crop Insurance Portal (NCIP) as a single source of data ensuring subsidy payment, co-ordination, transparency, dissemination of information and delivery of services including direct online enrolment of farmers, uploading/obtaining individual insured famer's details for better monitoring and to ensure transfer of claim amount electronically to the individual farmer's Bank Account. In order to rigorously monitor claim disbursal process, a dedicated module namely 'Digiclaim Module' has been operationalized for payment of claims from Kharif 2022 onwards. It involves integration of National Crop Insurance Portal (NCIP) with Public Finance Management System (PFMS) and accounting system of Insurance Companies. Delinking of Central Government share of premium subsidy from that of State Governments has been implemented so that farmers can get proportionate claims relating to the Central Government share. Opening of ESCROW Account by the State Government concerned for deposit of their premium share in advance as per provisions of the scheme has been made mandatory w.e.f. Kharif 2025 season. Also, towards leveraging technology in implementation of the scheme, various steps like capturing of yield data/Crop Cutting Experiments (CCEs) data through CCE-Agri App & uploading it on the NCIP, allowing insurance companies to witness the conduct of CCEs, integration of State land records with NCIP etc. have already been taken to improve timely settlement of the claims to farmers. Provision of 12 per cent penalty on delay in payment of claims by insurance company is auto calculated on National Crop Insurance Portal (NCIP). MoS said that both Public Sector and Private Insurance Companies have been involved to increase the coverage of farmers especially non-loanee farmers and to bring more competition in crop insurance sector so as to provide the best services to farmers at competitive rates. Due to increased competition, actuarial/bidded premium rates have also decreased. As compared to erstwhile crop insurance schemes, coverage of farmer applications has increased from 371 lakhs in 2014-15 to 1510 lakhs in 2024-25. He added that the number of non-loanee farmer applications has also increased from 20 lakhs in 2014-15 to 522 lakhs in 2024-25.
Economic Times
10-05-2025
- Business
- Economic Times
Panels formed to undertake eighth economic census
India is gearing up for its eighth economic census, employing technology for data collection, while addressing data quality concerns from the delayed seventh census. The government is integrating AI into statistical systems and revising the GDP base year to 2022-23, utilizing GST and other digital data sources. Efforts are also underway to enhance data granularity at the district level. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The government has begun preparations for the eighth economic census , with committees being formed at both state and district Ministry of Statistics and Programme Implementation (MoSPI) is in the process of seeking necessary approvals for undertaking this exercise that will capture data of all establishments and entrepreneurial units in India."This economic census will be more technology driven, with work ongoing on an end-to-end digital solution for data generation," MoSPI secretary Saurabh Garg told results of the seventh economic census, which was launched in 2019 but completed in 2021 due to delays caused by the Covid-19 pandemic, are yet to be released over concerns about data December 2023, statistics minister Rao Inderjit Singh informed Parliament that 12 states/union territories had not approved the provisional results of the seventh economic census, while decisions were pending in 10 to the sixth economic census, conducted from January 2013 to April 2014, India had 58.5 million enterprises employing 131 million people. Those results were published in ministry is working to integrate artificial intelligence into the official statistical in collaboration with a startup has launched a pilot project to develop an AI-based tool for extracting legacy data and a chat bot for intelligent document search. The aim is to ensure ease of access and management, people in the know told initiatives include the development of an AI/machine learning-based classification tool for the National Industrial Classification codes, a vision language model for optimising resource deployment for the urban frame survey and AI/ML-based classification of scanner data on individual consumption by joined the United Nations Committee of Experts on Big Data in January 2025 to explore challenges and opportunities of big data. In July 2024, the ministry established a Data Innovation Lab to integrate emerging technologies into official statistics in association with research institutions, startups and the ministry is undertaking a base year revision of key economic indicators, including gross domestic product, the consumer price index and the index of industrial GDP base year is being moved to 2022-23 from from using goods and services tax data in the new GDP series, the use of data from the Public Finance Management System, Vahan portal and the Unified Payments Interface is also being explored, said was first reported by ET in December revised methodology will expand the double deflation technique to sectors like rail transport, mining and electricity. Double deflation is used for measuring the real value added at constant volume extrapolation techniques, which are used for predicting future values of a variable, will be used in other sectors to derive real enhance granularity, the National Statistical Office has revised its survey sampling design to treat districts as a basic stratum for all the surveys, starting January 2025. This will facilitate district-level data collection for various indicators like employment under the Periodic Labour Force Survey and enterprise activity under the Annual Survey of Unincorporated Enterprises. The ministry is also providing technical and financial assistance to states/UTs for generation of indicators such as GDP and inflation at the district level. At present, 23 states compile district-level GDP estimates.
Time of India
09-05-2025
- Business
- Time of India
Panels formed to undertake eighth economic census
New Delhi: The government has begun preparations for the eighth economic census , with committees being formed at both state and district levels. #Operation Sindoor India-Pakistan Clash Live Updates| Missiles, shelling, and attacks — here's all that's happening Pakistani Air Force jet shot down in Pathankot by Indian Air Defence: Sources India on high alert: What's shut, who's on leave, and state-wise emergency measures The Ministry of Statistics and Programme Implementation (MoSPI) is in the process of seeking necessary approvals for undertaking this exercise that will capture data of all establishments and entrepreneurial units in India. "This economic census will be more technology driven, with work ongoing on an end-to-end digital solution for data generation," MoSPI secretary Saurabh Garg told ET. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Treatment That Might Help You Against Knee Pain Knee pain | search ads Find Now Undo The results of the seventh economic census, which was launched in 2019 but completed in 2021 due to delays caused by the Covid-19 pandemic, are yet to be released over concerns about data quality. In December 2023, statistics minister Rao Inderjit Singh informed Parliament that 12 states/union territories had not approved the provisional results of the seventh economic census, while decisions were pending in 10 others. Live Events According to the sixth economic census, conducted from January 2013 to April 2014, India had 58.5 million enterprises employing 131 million people. Those results were published in 2016. AI Key The ministry is working to integrate artificial intelligence into the official statistical system. MoSPI in collaboration with a startup has launched a pilot project to develop an AI-based tool for extracting legacy data and a chat bot for intelligent document search. The aim is to ensure ease of access and management, people in the know told ET. Other initiatives include the development of an AI/machine learning-based classification tool for the National Industrial Classification codes, a vision language model for optimising resource deployment for the urban frame survey and AI/ML-based classification of scanner data on individual consumption by purpose. India joined the United Nations Committee of Experts on Big Data in January 2025 to explore challenges and opportunities of big data. In July 2024, the ministry established a Data Innovation Lab to integrate emerging technologies into official statistics in association with research institutions, startups and academia. New GDP series Parallelly, the ministry is undertaking a base year revision of key economic indicators, including gross domestic product, the consumer price index and the index of industrial production. The GDP base year is being moved to 2022-23 from 2011-12. Apart from using goods and services tax data in the new GDP series, the use of data from the Public Finance Management System, Vahan portal and the Unified Payments Interface is also being explored, said Garg. This was first reported by ET in December 2024. The revised methodology will expand the double deflation technique to sectors like rail transport, mining and electricity. Double deflation is used for measuring the real value added at constant prices. Meanwhile, volume extrapolation techniques, which are used for predicting future values of a variable, will be used in other sectors to derive real estimates. Focus on sub-state level data To enhance granularity, the National Statistical Office has revised its survey sampling design to treat districts as a basic stratum for all the surveys, starting January 2025. This will facilitate district-level data collection for various indicators like employment under the Periodic Labour Force Survey and enterprise activity under the Annual Survey of Unincorporated Enterprises. The ministry is also providing technical and financial assistance to states/UTs for generation of indicators such as GDP and inflation at the district level. At present, 23 states compile district-level GDP estimates.
