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Increase in farm insurance enrolments for 2 yrs in row
Hindustan Times
|October 11, 2023
The number of farmers opting for the central government's flagship farm insurance scheme has recorded a jump for two years in a row, along with an improvement in other indicators, a review by the agriculture ministry showed, pointing to a rebound in a welfare programme that has long been hobbled by large inefficiencies.
A latest review of the Pradhan Mantri Fasal Bima Yojana by the farm ministry, up until the current summer cropping season, shows an increase of 22% in the number of enrolled cultivators at 24.9 million, the highest in six years, according to data seen by HT.
Besides, the total area insured, another key indicator, stands at 50 million hectares, the largest so far. Premium rates in the current cropping season dipped by 32%, which has saved 10,500 crore, the lowest level since the scheme's launch, a sign the government has been able to negotiate better deals with insurance firms.
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