Crop insurance boost: Agriculture minister Shivraj Singh Chouhan to transfer Rs 3,200 cr PMFBY claims on Monday; new rules bring faster payouts

Agriculture minister Shivraj Singh Chouhan will digitally transfer Rs 3,200 crore in crop insurance claims on Monday under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to 30 lakh farmer beneficiaries. The transfer will take place during an event in Jhunjhunu, Rajasthan, attended by Rajasthan Chief Minister Bhajanlal Sharma, Union Minister of State for Agriculture Bhagirath Choudhary, and state agriculture minister Kirodi Lal Meena, PTI reported.According to an official statement, of the total claim amount, Rs 1,156 crore will go to farmers in Madhya Pradesh, Rs 1,121 crore to 7 lakh farmers in Rajasthan, Rs 150 crore to beneficiaries in Chhattisgarh, and Rs 773 crore to farmers in other states.Chouhan said the Centre has introduced a simplified claim settlement system in the interest of farmers, allowing proportionate payments based only on the central subsidy without waiting for the state’s premium contribution. “From the Kharif 2025 season onwards, if a state government delays its subsidy contribution, it will be penalised at 12 per cent, and similarly, if insurance companies delay payments, farmers will receive a 12 per cent penalty,” he stated.Since its launch in 2016, PMFBY has disbursed claims worth Rs 1.83 lakh crore, against farmers’ premium payments of Rs 35,864 crore. “This means an average claim payout of more than five times the premium, indicating the government’s farmer-friendly policy,” Chouhan said.The agriculture ministry noted that several technological initiatives — including YES-TECH, the WINDS portal, the AIDE mobile app, the Krishi Rakshak Portal, and helpline number 14447 — have improved claim settlement speed, enhanced transparency, increased weather data accuracy, and enabled farmer registration facilities at the village level.