Bisheshwar Mishra / AMN /

The Union Cabinet today approved Pradhan Mantri Fasal Beema Yojna, a crop insurance scheme aimed to ensure farmers’ welfare. Talking to media persons after Cabinet meeting in New Delhi, Home Minister Rajnath Singh said the scheme will offer more insurance with less premium, and lead to rise of purchasing capacity of farmers. He termed Cabinet’s decision on crop insurance scheme a historic one. “It will be a safety cover for farmers in distress,” says Rajnath.

The new Crop Insurance Scheme replaces the existing National Agricultural Insurance Scheme. Explaining the scheme Union Minister Venkaiah Naidu said that farmer’s share of premium has been substantially reduced and government will provide subsidy on premium. He said government liability on premium subsidy will be shared by Central and State Governments on fifty-fifty basis.

The budget for Crop Insurance will be substantially increased from 2823 crore rupees to 7750 crore rupees in 2018-19. Remote Sensing, smart phones and drones will be used for quick estimation of crop losses and early settlement of claims.

The Insurance Portal will be used extensively for ensuring better administration, co-ordination and transparency. Districts will be allocated to Insurance Companies on cluster basis for longer duration to ensure uniformity. Cabinet has approved Unified Package Insurance Scheme, UPIS approved on pilot basis for 45 districts. It will cover activities like machinery, life, accident, house, and student safety in addition to crop insurance. These schemes will be implemented from Kharif season 2016.

Cabinet has also approved setting up of Empowered Committee of Secretaries to process recommendations of 7th Pay Commission in an overall perspective. It has also given its nod to India becoming a member country of the International Energy Agency – Ocean Energy Systems (IEA-OES). India will have access to advanced Research and Development teams and technologies across the world in the field of ocean renewable energies.