Over 4 cr farmers may opt for Pradhan Mantri Fasal Bima Yojana this year: Radha Mohan

Union Agriculture Minister Radha Mohan Singh on Sunday said the number of farmers opting for the ‘Pradhan Mantri Fasal Bima Yojana’ this year is expected to cross four crore, as against three crore last year.

As many as 200 mandis across the country would be brought under the ambit of the scheme by next month. 400 mandis would be made online by March next year, while 585 mandis would go online by 2018, he said.

Singh said, “The scheme aims to make agricultural practice risk-free for the farmers, but the leaders in order to serve their own political agenda are not able to comprehend it.” 

“Earlier, crop insurance schemes profited insurance companies and farmers were not compensated for the losses due to crop damage caused by natural calamities after the harvest. Besides, premium rates differed according to location,” he said.