Govt plans to revamp crop cover scheme PMFBY to woo more insurers ...Middle East

Amid reports of some insurance companies making profits in the government's flagship crop cover scheme PMFBY, the Centre is planning to revamp the programme to rationalise premium rate and encourage participation of more insurers. The likely key changes to the scheme will be implemented from 2023-24 crop year (July-June) after the cabinet approval, according to sources. The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in February 2016, aims to provide financial support to farmers suffering crop loss/damage arising out of natural calamities. Under this scheme, maximum premium payable by farmers is 2 per cent for all food and oilseeds crops grown in the kharif (summer) season, 1.5 per ce

Read More Details
Finally We wish PressBee provided you with enough information of ( Govt plans to revamp crop cover scheme PMFBY to woo more insurers )

Also on site :

• Trump economic advisor confident in China trade deal conclusion on Monday
• Men have hundreds more saved in ‘rainy day’ funds than women, research indicates
• Trump announces U.S.-China trade talks in London