Dear Sehpaathians,
Citing the recent draught and untimely rainfall, Prime Minister Narendra Modi Launched the Prime Minister Fasal Bima Yojana to protect the farmers by insurance policies. The insurance premium in Prime Minister Fasal Bima Yoja ranges from minimum of 1.5% to 5% depending on crop. The 1.5% fee depends on the area and the crop proposed to be sown. Suppose you have a 1hectre land and crop you are going to sown is soyabean, which according to govt. rates is 30000/- per hectre. Then the insurance amount will be 30000 X 1.5% i.e. Rs 450. The terms and conditions in the above scheme are next to nil as the claim will be given as per govt. Guidelines. Below given are the rates which have been proposed for Pradhan mantri Fasal Bima Yojana
Uniform Premium for Different types of Crops
| Name of the crop | Insurance Premium |
| Kharif | 2% |
| Rabi | 1.5% |
| Commercial Agriculture | 5% |
| Horticulture | 5% |
ECONOMIC CAPSULES RELATED TO NABARD
Prime Minister Narendra Modi has asked for integration of all land records with Aadhaar at the earliest, emphasizing at his monthly PRAGATI (Pro-Active Governance And Timely Implementation). Govt. Plans to integrate this scheme on a mandatory basis in which the crop gets insured automatically depending on the size of land, and money is debitted from his aadhaar linked account.
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