Bhopal, May 20 (IANS). Madhya Pradesh government has given big relief to the farmers during ‘Kisan Kalyan Varsh’. The Madhya Pradesh Cabinet chaired by Chief Minister Mohan Yadav on Wednesday approved the continuation of ‘Pradhan Mantri Fasal Bima Yojana’ for the next five years with a huge financial allocation of Rs 11,608.47 crore. The decision will provide protection to lakhs of farmers in the state from crop losses due to natural disasters. Madhya Pradesh has been a leader in effectively implementing the scheme since 2016, especially through the use of advanced technology for crop assessment and yield estimation. The state has achieved remarkable success under this scheme.
Claims worth Rs 961.68 crore were paid to 35.18 lakh farmers in 2023-24, while Rs 275.86 crore was distributed to 35.56 lakh beneficiaries in 2024-25. These figures reflect the wide reach and importance of the scheme in reducing risks in agriculture. Under the Pradhan Mantri Fasal Bima Yojana, farmers pay nominal premiums, only 2 per cent for Kharif crops, 1.5 per cent for Rabi crops and 5 per cent for commercial and horticultural crops.
The remaining premium is shared between the Central and State Governments. The State has set the compensation level for all crops at 80 per cent, which will remain in force in the coming years. The Cabinet has kept open the option to adopt either of two alternative implementation models: CUP and Surplus Sharing 80-110 model or CUP and CAP Surplus Sharing 60-130 model.
The final decision will be taken based on a detailed assessment of the merits of these models. In both models, insurance companies bear a major share of the claims, while any surplus generated from lower claims is returned to the governments. The scheme is currently being implemented through 11 clusters across the state, in which insurance companies are selected through competitive bidding. Madhya Pradesh is using satellite based remote sensing technology, weather data systems and modern data management for transparent and accurate yield assessment. The framework is widely used.
–IANS
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