Revamping Crop Insurance Schemes
- On 19th February, 2020, the Union Cabinet approved revamping of “Pradhan Mantri Fasal Bima Yojana (PMFBY)” and “Restructured Weather Based Crop Insurance Scheme (RWBCIS)” to address the existing challenges in implementation of Crop Insurance Schemes. These changes are proposed to be implemented from Kharif 2020 Season throughout the country. The move is aimed at increasing the coverage rate and enabling farmers to manage their agricultural risk in a better way.
Need of Revamping the Schemes
- The Centre was under pressure to make necessary changes in PM Fasal Bima Yojana after Andhra Pradesh, West Bengal and Bihar decided to exit the ....
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