Home Business Govt aims 40 per cent sown area under insurance cover in 2017-18

Govt aims 40 per cent sown area under insurance cover in 2017-18

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The government is aiming to bring 40 per cent of gross sown area of 194.4 million hectare under crop insurance schemes in 2017-18 season beginning July. In 2016-17 crop year, about 26.28 per cent or 51.1 million hectare of gross area under crops was insured.

A senior Agriculture Ministry official told PTI that in first year of the implementation of the Pradhan Manthri Fasal Bima Yojana, a substantial progress has been achieved. He said, in 2017-18, the target for insured area is set at 40 per cent gross cropped area, which translates to 77.6 million hectare.

He said, the state governments, banks and insurance companies will be asked to adopt appropriate strategies to achieve the targets including notification of more number of crops and greater focus on non-loanees including utilisation of Common Service Centre for this purpose.
At present, crops are being insured under Restructured Pradhan Manthri Fasal Bima Yojana and Weather Based Crop Insurance Scheme. Under the Pradhan Manthri Fasal Bima Yojana, launched last year, the premium to be paid by farmers is kept lower and claims are settled early.

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