SRINAGAR, JUNE 27: Minister for Agriculture Production, Mr Ghulam Nabi Lone Hanjura, today said the State Government is working out modalities for implementation of “Pradhan Mantri Fasal Bima Yojna” for Kharif and Rabi crops during the current financial year.
The Minister said the “Pradhan Mantri Fasal Bima Yojna” (PMFBY) is a flagship programme aimed at mitigating the concern of the farmer arising due to losses on account of various weather vagaries.
“The weather often plays havoc with the crops and thereby affects the economic condition of the farmers. Henceforth, crops are to be brought under PMFBY at nominal premium rates,” the Minister said.
Mr Lone said the State Administration Council has already accorded its sanction for the implementation of the scheme in the State. “State is intending to cover premium rates as per the National Policy as per guidelines so that minimum burden falls on farmers,” he said.
The Minister said necessary budgetary provisions have been kept during 2016-17 for the scheme whose launching involves appointment of insurances companies and other steps for which due process in underway at present.