The notification of crop insurance for Rabi season year 2017-18 under prime Minister’s Crop Insurance Scheme in Madhya Pradesh has been issued district wise. Farmer Welfare and Agriculture Department issued necessary instructions to the concerned district collectors in connection with crop insurance.
This Rabi season, crops of farmers will be insured till January 15, 2018. There is provision for mandatory crop insurance of farmers who have taken crop loan for notified crops.
Farmers of the state who have not taken any loan and who have sown rabi crop have also been urged to get their crops insured under Prime Minister’s Crop Insurance Scheme for financial security.
The premium rate for state’s farmers who have taken loan and those who have not will be payable for rabi crops at the rate of 1.5 per cent of the insured amount. There are around 88 lakh farmers in state. Crops of nearly 27.77 lakh farmers were insured under the Prime Minister’s Crop Insurance Scheme for the financial security of farmers in Rabi season 2016-17 in the state. In Kharif year 2017, crops of nearly 33.50 lakh farmers were insured.
Insurance companies have paid compensation for crop loss to farmers in Kharif season 2016. A total of Rs 1663.37 crore have been paid as compensation for crop loss to 8.39 lakh farmers of the state.
There is provision for survey and compensation to farmers for calamities, hail storm, water logging and crop loss due from natural calamity after harvest. This benefits maximum number of farmers.
A specialty of Prime Minister’s Crop Insurance Scheme is that if there is possibility of less than 50 per cent produce in any insured unit, 25 per cent of the insured amount is provided to the farmers as advance apart from prompt assistance.