New Delhi: Union Agriculture Minister Radha Mohan Singh Saturday said on account of bad weather in Odisha, insurance claims paid under the crop insurance scheme were more than the total premiums.
He said there were four states, including Odisha, where under the Pradhan Mantri Fasal Bima Yojana (PMFBY) more than 100 per cent claims against the total premiums were registered during the last Kharif season.
As per the data furnished by the minister, during 2017-18, a total of Rs 837.40 crore premiums were paid in Odisha while the total insurance claims were reported to be Rs 1,603 crore which took the total insurance claims paid against the premiums to 191 per cent.
PMFBY was launched during 2016 Kharif season to provide comprehensive crop insurance coverage from pre-sowing to post-harvest losses against non-preventable natural risks. These schemes are only risk mitigation tools available to farmers at extremely low premium rates payable by them.
The balance of actuarial premium is shared by the Central and state governments on 50-50 basis.
The scheme is voluntary for states and available in areas and for crops that are notified by the state governments.
Further, the scheme is compulsory for loanee farmers and voluntary for non-loanees.
PNN
