Maharashtra Empanels Insurance Firms for Implementation of Crops Insurance Scheme

The state government declared the list of the insurance firms empanelled for Pradhanmantri Fasal Bima Yojana on Saturday. The crop insurance scheme is one of the flagship programmes of the central government launched in January this year and is administered under the ministry of agriculture and farmers’ welfare. The main aim of the scheme is to provide insurance support to the farmers so as to sustain in the period of damage to their crops.

The state government has formed the clusters of the districts for the implementation of the scheme. For every cluster an insurance firm has been selected by the government. Under the insurance plan the premium rate for the Kharif and Rabi crops will be 2% of the actual sum assured while for the commercial and horticultural crops the premium rate will be 5%. The insurance plan will be functional from the next Kharif season of crop cultivation as per the guidelines of the scheme released by the central government.