- Pradhan Mantri Fasal Bima Yojana may introduce two new benefits for farmers.
- Small farmers with up to two hectares of land could receive free compulsory crop insurance.
- Financial assistance of ₹100 per quintal proposed to prevent crop destruction by stray animals.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is set to benefit farmers in India through the introduction of new changes that aim to improve their financial stability.
Recent recommendations from the Parliamentary Standing Committee suggest that two significant benefits could be incorporated into this scheme, specifically benefiting small farmers and addressing losses due to stray animals.
New Benefits in PMFBY 2025
- The Indian Parliamentary Standing Committee has made crucial suggestions to support farmers. One of its proposals is to include damages caused by stray animals under the purview of Pradhan Mantri Fasal Bima Yojana. This change will ensure that farmers who face crop loss due to these animals are eligible for compensation under the scheme.
- Additionally, the committee has recommended providing financial aid of ₹100 per quintal specifically aimed at maize farmers. This aid is intended to minimize the destruction of crop residues, thereby enhancing the agricultural landscape and encouraging better crop management practices.
Free Crop Insurance for Small Farmers
Another significant improvement highlighted by the committee is the proposal to offer free mandatory crop insurance to small farmers owning land up to two hectares. This move can significantly ease the financial burden on these farmers, especially those facing natural calamities, pest attacks, or other adverse situations.
By paralleling this scheme with the Pradhan Mantri Jan Arogya Yojana (PMJAY), which offers comprehensive health coverage to its beneficiaries, the government aims to provide a safety net for small farmers, enhancing their income and financial stability.
In short, these recommendations signal a positive change in the PMFBY, aiming to support the backbone of the agricultural sector – the farmers.
Addressing Issues for Effective Program Implementation
To improve the effectiveness of PMFBY, the committee emphasized the necessity of solving issues related to delayed funding from state governments and inadequate compensation for losses. These factors can significantly hinder the timely support farmers need when calamities strike.
The Parliamentary Standing Committee’s report also stresses the importance of a multi-faceted approach to manage crop residues effectively. Implementing policy interventions, enhancing farmer education, promoting technical innovation, and offering financial incentives are crucial steps toward achieving this goal.