Pradhan Mantri Fasal Bhima Yojana reviewed

On July 13, 2020, Finance Minister Nirmala Sitaraman reviewed Pradhan Mantri Fasal Bhima Yojana.

Highlights

The Minister reviewed the journey of Pradhan Mantri Fasal Bhima Yojana since 2016. The scheme will now on focus on leveraging technologies. The scheme is expected to migrate towards technology by 2023. A survey is to be conducted after Rabi 2020-21 to assess the impact of revamped Pradhan Mantri Fasal Bhima Yojana

Outcomes

The importance of carrying out awareness activities and need for the states to release premium subsidy was discussed. The Minister directed timely settlement of claims under the scheme.

Pradhan Mantri Fasal Bhima Yojana

Finance Minister announced during Budget 2020-21 presentation that around 6.11 crores of farmers are registered under Pradhan Mantri Fasal Bhima Yojana.

The scheme was formulated in line with National Agricultural Insurance Scheme, Modified National Agricultural Insurance Scheme and One-Nation One Scheme theme.

Month: Current Affairs - July, 2020