Arun Jaitley Launched
Pradhan Mantri Fasal Bima Yojna and Unified Package Insurance Scheme in Mumbai
onTuesday.
Uttrakhand became the first state to adopt this scheme as
insurance companies bid for 2 % premium.The
revamped schemes would help farmers insure their crops against natural
calamities in an efficient way because insurance companies will reverse bid for
higher sum insured and lower premium.
This
scheme would enable the farmer to pay less and in the event of crop failure
will allow him to get paid more. This scheme will give volumes hence would
require lesser amount as premium from farmers
Launching
the scheme the minister said that with 50% of the farmers being targeted for
coverage under the scheme.
He also added that these schemes are a part of the government's efforts to convert India into an insured and pensioned society.
He also added that these schemes are a part of the government's efforts to convert India into an insured and pensioned society.
Source:economictimes
