Telangana government has joined the Prime Minister’s Crop Insurance Yojana scheme. From 2016 to 2020 Telangana government has become a part of this scheme.
Chief Minister Revanth Reddy, State Agriculture Minister Tummala Nageswara Rao, PMFBY CEO and Union Joint Secretary Ritesh Chauhan met at the State Secretariat on Friday. On this occasion, a discussion was held on the issue of Telangana’ presence in PMF BY from 2016 to 2020, and the manner in which the government of that time withdrew from it.
With Telangana government rejoining PMFBY, farmers will get crop insurance from this scheme from the next crop season. Ritesh Chauhan informs that farmers will get benefit with PMF BY and timely compensation will be given in case of crop loss.
Chief Minister Revanth Reddy responded on this occasion and said that he would give priority to the implementation of farmer-centric policies in the overall development of the state.
Pradhan Mantri Fasalbeema Yojana (PMFBY) scheme came into effect across the country from the monsoon season of 2016. In addition to the farmers, central and state governments also bear some amount as their share in the premium paid for this. But there is an argument that the insurance companies have benefited more than the farmers in the implementation of this scheme. There were criticisms that the premium rates were also high.