Farmers to be educated Under Pradhan Mantri Fasal Bima Yojana
With the growing issue of huge number of farmers committing suicide, one of the major important steps taken up by the government is the fasal bima yojana. One primary reason for the suicidal tendencies among people ignorance. This yojana is an insurance plan that has been set up for the farmers, in which the premium rates that are paid by the farmers is brought down to an extra-ordinary level. Thus, it becomes really helpful for the farmers since they are able to cover up for the costs that are endured during the loss of natural calamities.
The important features of fasal Bima Yojana
- One of the important features of this scheme is for those farmers, who have availed the crop loan, this yojana is mandatory for them. And for those who did not take up the crop loan, it is not mandatory to take up the Fasal Yojana.
- Well, a large section of people are aware that the farmers have to pay a premium share of 15 percent, but this yojana brings don the rate to premium pay to as low as 1.5%. Previously, such high premium returns was a cause of concern for the farmers which led to a large number of suicides in our country. The rates needed to be brought down and this fasal yojana seems to be just the perfect way to reduce the problems of the farmers.
- With the center’s move in bringing down the interest rates this is being viewed as a major government policy for reaching out to the farmers. It cannot be denied that a huge section of India is solely dependent on the agriculture and farming, especially in the rural areas. Thus, it is necessary to strengthen the insurance scheme for crops for preventing the farmers to incur heavy losses.
A tabular overview of fasal bima yojana
|SL NO||Factors of Fasal bima Yojana||Brief descriptions|
|1.||What is fasal bima yojana||This is a crop insurance scheme that has been launched by the prime Minister in each and every state of India in association with state governments.|
|2.||The objective of fasal bima yojana||The main motto is to provide coverage for insurance premiums for the farmers so that even if the yield is damaged due to natural calamity, it can be sustained.|
|3.||Why it is beneficial||The reason it is so important is before the implementation of this scheme, farmers had to pay an amount of 15% as premium cover price of crops. But under scheme, the farmers are required to pay only 1.5%-2% as per premium price for crops.|
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