Cabinet approves New Crop Insurance Scheme – Pradhan
Mantri Fasal Bima Yojana – A boost to the farming sector. The new Crop Insurance Scheme is in
line with One Nation – One Scheme theme.
Earlier, there was a provision of capping the premium rate
which resulted in low claims being paid to farmers. This capping was done to
limit Government outgo on the premium subsidy. This capping has now been
removed and farmers will get claim against full sum insured without any
reduction.
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