PANJIM: Pradhan Mantri Fasal Bima Yojana (PMFBY), the Prime Minister’s crop insurance scheme that was launched for the benefit of farmers in 2016, has seen just 4 % of the farmers in Goa opting for the scheme.
In all 1635 farmers of the 35,000 registered farmers in the State have been insured under the scheme. An area of 1216.26ha has been covered under the scheme so far.
PMFBY is an actuarial premium-based scheme under which the farmer has to pay a maximum premium of 2 percent for the kharif crop, 1.5 percent for the rabi food and oilseed crops and 5 percent for annual commercial/horticultural crops and remaining part of the actuarial/bidded premium is shared equally by the Centre and State governments.
As per information available, for the 2016 kharif season, 744 farmers benefited under the scheme, covering a total area of 543 ha and the sum assured was Rs 576.44 lakh. For the 2017 kharif season, 744 farmers were covered with the total sum assured being Rs 446.12 lakh.
As on date, 129 sugarcane farmers have benefited under the scheme and the compensation of Rs 2.95 lakh have been paid due to loss of crops during the kharif season 2016 and 2017.
“The scheme has been implemented in the State since 2016. However, the response of farmers is very poor. Hardly 1635 farmers have been covered under the scheme so far. Probably due to the growing misconception about the scheme that it benefits the insurance companies and not the farmers,” former Agriculture director Nelson Figueiredo told Herald.
“Another reason could be that in Goa you don’t see destruction of agriculture due to natural calamities like droughts and flooding,” he stated adding, “PMFBY provides a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers.”
Figueiredo said that on a trial basis, the scheme, now also looking into the loss of crop due to destruction by wild animals, which is a major problem in Goa. “On a trial basis insurance companies will also be covering this,” he added.
One of the objectives of the scheme is to facilitate prompt claims settlement. Towards this the scheme guidelines provide that claims must be settled within two months of the harvest subject to timely provision of both yield data and share of premium subsidy by the State government.
For Goa, the subsidy is released to implementing agencies regularly through Agriculture Insurance Company, Mumbai.
