95% surge in Maharashtra enrolment boosts PM crop insurance area by 12%

The Centre’s flagship scheme Pradhan Mantri Fasal Bima Yojana (PMFBY) or the PM Crop Insurance Scheme has seen coverage of 30.14 million hectares (mh) in kharif 2023, which is 12 per cent higher than year-ago. The maximum increase has been noticed in Maharashtra, which received 39 per cent below-normal rain in August.

Maharashtra’s insured area has nearly doubled to 11.4 million hectares (mh), after the State government decided to take the burden of the premium, whereas it is almost at last year’s level in other major States such as Rajasthan, Madhya Pradesh and Uttar Pradesh. But, insurers are now waiting for September rain as the pan-India deficit in August has reached 35 per cent, threatening crops in many parts.

“Though some more additions may be made during data compilation, enrolment of farmers in almost all States except Jammu and Kashmir has been completed,” an official said. Enrolment under PMFBY in Jammu and Kashmir will end August 31.

There has been a big jump in enrolment of nonloanee farmers as the area insured by them has witnessed a 71 per cent rise to 14.25 mh whereas loanee farmers have insured 15.89 mh, a fall of 15 per cent from yearago.

Official sources attributed the trend to the Maharashtra government’s decision to subsidise farmers’ premiums in crop insurance by allowing enrolment only at Rs. 1 has increased the coverage, the surplus rain in mostly irrigated Haryana in July has reduced enrolment.