Agriculture minister Narendra Singh Tomar informed Parliament that for every Rs 100 of premium paid by farmers under the flagship scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), they have received about Rs 514 as claims. Since implementation of PMFBY in 2016, around 38 crore farmer applicants have been enrolled and over 12.37 crore (provisional) have received claims, he said in his written reply to the Rajya Sabha.
“During this period, nearly Rs 25,252 crore were paid by farmers as their share of premium against which claims of over Rs 1,30,015 crore (provisional) have been paid to them. Thus, for every 100 rupees of premium paid by farmers, they have received about Rs 514 as claims,” the minister said.
PMFBY was launched with an aim to address problems of high premium rates for farmers and reduction in the sum-insured due to capping.
In a separate reply, the minister said the PMFBY is available for all states/UTs and is voluntary for them. It is also voluntary for the farmers to enroll themselves as per their risk perception.
