Crop Insurance Scheme: Farmers will soon receive payment for crop insurance claims.
Fasal Pradhan Mantri The government runs the Bima Yojana to compensate farmers for crop losses caused by natural disasters. Under this programme, the government, through insurance companies, provides farmers with the opportunity to insure their rabi and kharif crops. Thousands of farmers have their crops insured under this scheme. Following insurance, the insurance company is notified of the crop loss, the crop report is prepared, and the claim amount is paid to the farmer on behalf of the insurance company. However, the farmers' claim money frequently arrives late. In such a case, the government orders the insurance company to pay the insurance claim. Many states are participating in the Pradhan Mantri Fasal Bima Yojana. The farmers of Jharkhand have received good news in this episode. Farmers in the state who had their crops insured through this scheme His unpaid claims will be settled soon.
Which year will the state's farmers receive their insurance claim?
According to media reports, the state's farmers will soon receive the pending payment from 2017–18 to 2020. On behalf of the Government of India, Jharkhand's Agriculture Minister Badal met with Ritesh Chauhan, CEO of the Pradhan Mantri Fasal Bima Yojana, and representatives of insurance companies to resolve the outstanding crop insurance claims. The Agriculture Minister stated in it that the state government is willing to contribute if the insurance companies provide an affidavit on their behalf stating that they will pay the farmers' insurance claims as soon as possible.
When will the farmers receive the unpaid claim amount?
Jharkhand Agriculture Minister Badal stated that the amount of the state share will be given to insurance companies associated with the Prime Minister's Crop Insurance. The claim amount for the affected farmers will be transferred to their bank accounts as soon as the state and central share amounts are received. He stated that the insurance companies would pay the farmers' pending claims as soon as possible. Minister Badal stated that the state government has been continuously providing funds to insurance companies since 2015-16, but farmers are not receiving the full benefit. In such a case, as soon as the insurance companies provide an affidavit, the state government will immediately release its share; the central government team has clearly instructed the insurance companies to provide such affidavits.
Pending claims will be paid within 7 days of receipt of funds from the state.
Farmers in Jharkhand who have registered under the PM Fasal Bima Yojana and whose claims have not been settled between 2017–18 and 2020 will be paid soon. The insurance companies will pay the pending claims of farmers totaling Rs 811 crore within 7 days of the amount being released by the state government. Farmers will be paid the insurance claim amount through the portal, and a penalty will be imposed on the negligent company. It was also decided that all insurance companies would provide the state government with an affidavit. Farmers' claims will be paid into their bank accounts within seven days of receiving the central and state shares.
Jharkhand will now implement a new crop insurance scheme.
Jharkhand's government has announced the launch of a new state-level scheme called Fasal Rahat Yojana to assist the state's farmers. This scheme will function similarly to the Pradhan Mantri Bima Yojana. This scheme will primarily provide financial assistance to farmers in the event of crop damage caused by natural disasters and accidents. In reality, the Jharkhand State Crop Relief Scheme is more of a compensation scheme for farmers in the event of crop damage than a crop insurance scheme. It will fulfil the resolution of providing farmers with definite financial assistance as well as a protective cover in the event of crop damage due to natural calamities.
Farmers will not have to pay a premium under the Pradhan Mantri Fasal Bima Yojana.
Crop Relief Scheme Jharkhand will be available to both landowners and landless farmers. Farmers will not be required to pay crop insurance premiums under this scheme, and the government will provide financial assistance directly to them in the event of crop damage.
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