Every year, farmers face significant losses due to seasonal changes and natural disasters. The Pradhan Mantri Fasal Bima Yojana (PMFBY) provides much-needed protection against these losses. Under this scheme, compensation for crop damage has been provided to 25 lakh farmers in Madhya Pradesh, amounting to ₹755 crore.
The PMFBY, launched by the central government in 2016, aims to safeguard farmers from crop losses caused by natural calamities. In Madhya Pradesh, this recently released insurance amount pertains to claims for crop damage during the Kharif season. Additionally, farmers have insured 41 lakh hectares of crops for the ongoing Rabi season.
Source: Kisan Tak
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