Higher crop insurance coverage to inflate crop insurance subsidy bill

The 2017-18 subsidy bill for the states and the Centre due to the Pradhan Mantri Fasal Bima Yojna (PMFBY) is set to increase 10-15 per cent as the scheme enters the second year. The farmers’ coverage is expected to increase by 10-15 per cent. In several states, insurers have raised premium quotations by five-seven per cent.