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Agriculture minister Shivraj Singh Chouhan on Tuesday stated insurance coverage claims of Rs 1.6 lakh crore have been paid to farmers towards Rs 32,440 crore premium paid by them beneath Pradhan Mantri Fasal Bima Yojana (PMFBY) since inception of the scheme in 2016-17.
Replying to a query on the scheme throughout Query Hour in Lok Sabha, he stated Modi govt has made it “farmer pleasant and reasonably priced” and made provisions for “well timed & clear” processing of all claims.
“As per provisions of the scheme, 12% penalty is required to be paid by insurance coverage firms to farmers for late disbursal of claims, for which a penalty module has additionally been developed to calculate the penalty robotically w.e.f. Kharif 2024 season,” stated Chouhan.
Replying to a query on the scheme throughout Query Hour in Lok Sabha, he stated Modi govt has made it “farmer pleasant and reasonably priced” and made provisions for “well timed & clear” processing of all claims.
“As per provisions of the scheme, 12% penalty is required to be paid by insurance coverage firms to farmers for late disbursal of claims, for which a penalty module has additionally been developed to calculate the penalty robotically w.e.f. Kharif 2024 season,” stated Chouhan.
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