Pending Insurance Claims to Be Released Soon Under PM Fasal Bima Yojana in Rajasthan

Key Highlights:

• Farmers in Rajasthan to get pending PMFBY insurance claims soon.

• ₹1,814 crore for Kharif 2023 and ₹1,214 crore for Rabi 2023-24 have already been distributed.

• Objections raised by insurance companies resolved; claims to be paid without delay.

• Proposal for "Risk Relief Fund" to make insurance cheaper and fairer for farmers.

• Uniform premium rate and easy registration are suggested to benefit all farmers equally.

The Rajasthan government has announced major relief for farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY). Soon, farmers in the state will receive pending insurance claims for crop losses suffered during recent agricultural seasons. This step is part of the government’s commitment to support farmers affected by natural disasters and ensure timely compensation.

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Relief for Rajasthan Farmers: Insurance Claims to Be Cleared

A recent meeting of the State Level Grievance Redressal Committee was held in Jaipur, chaired by Rajan Vishal, Secretary of Agriculture and Horticulture. In this meeting, officials confirmed that outstanding insurance claims under PMFBY will soon be paid to farmers in Rajasthan. Already, claims worth ₹3,878 crore have been distributed among 120 lakh insured farmers for Kharif 2023 and Rabi 2023-24 seasons.

Resolution of Objections by Insurance Companies

The meeting also addressed objections raised by the Agriculture Insurance Company and the Reliance General Insurance Company regarding crop cutting experiments in Jaisalmer, Jalore, and Nagaur districts. These objections pertained to 79 crop cutting samples during Rabi 2023-24. Officials were instructed to ensure that all such crop cutting experiments are done transparently and on time, as per PMFBY guidelines. Strict action will be taken against officers found negligent.

Proposal for "Risk Relief Fund" to Support Farmers

In a separate meeting held on 24th July at the Apex Bank Auditorium, Cooperative Minister Gautam Kumar Dak reviewed the progress of Sahakar Jeevan Raksha Bima Yojana. He proposed the creation of a “Risk Relief Fund”, aimed at reducing the financial burden of insurance premiums on farmers. This fund would also help ensure faster claim settlements and curb irregularities by insurance companies.

Uniform Premium and Easier Registration Process

Currently, insurance companies charge different premium rates for different age groups, creating confusion and hardship for farmers. The Cooperative Minister suggested a uniform premium rate for all farmers, irrespective of age, under the Risk Relief Fund. It was also proposed that only 1% of the crop loan amount should be charged as the premium, making it significantly more affordable compared to existing high premiums.

Farmers would be able to register for this new scheme through both online and offline methods, making the process more accessible. This uniformity and ease would encourage more farmers to insure their crops and receive timely assistance in case of loss.

Controlling Unfair Practices by Insurance Companies

Concerns were raised about the high premiums and low claim payouts by private insurance companies. The proposed Risk Relief Fund aims to protect farmers from such arbitrary practices. Inputs from cooperative banks, land development banks, and PACS (Primary Agricultural Credit Societies) have been invited and will be incorporated into the final scheme.

A Step Toward Agricultural Stability

The Rajasthan government’s recent steps are expected to offer immediate and long-term relief to farmers. While the pending insurance claims will be released shortly, the Risk Relief Fund could become a game-changer for agricultural risk management. This would not only provide financial security but also boost farmers confidence in insurance schemes, ultimately supporting sustainable agriculture in the state.

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CVM360 Says

With timely payout of pending insurance claims and the introduction of farmer-friendly schemes like the Risk Relief Fund, Rajasthan is working to improve the financial resilience of its farming community. These proactive measures reflect a strong commitment to agricultural welfare and farmer support, ensuring that those who feed the nation are not left unprotected in times of crisis.