Agriculture minister Shivraj Singh Chouhan on Tuesday said insurance claims of Rs 1.6 lakh crore have been paid to farmers against Rs 32,440 crore premium paid by them under Pradhan Mantri Fasal Bima Yojana (PMFBY) since inception of the scheme in 2016-17.
Replying to a question on the scheme during Question Hour in Lok Sabha, he said Modi govt has made it “farmer friendly and affordable” and made provisions for “timely & transparent” processing of all claims.
“As per provisions of the scheme, 12% penalty is required to be paid by insurance companies to farmers for late disbursal of claims, for which a penalty module has also been developed to calculate the penalty automatically w.e.f. Kharif 2024 season,” said Chouhan.
Replying to a question on the scheme during Question Hour in Lok Sabha, he said Modi govt has made it “farmer friendly and affordable” and made provisions for “timely & transparent” processing of all claims.
“As per provisions of the scheme, 12% penalty is required to be paid by insurance companies to farmers for late disbursal of claims, for which a penalty module has also been developed to calculate the penalty automatically w.e.f. Kharif 2024 season,” said Chouhan.
