Deputy Chief Minister and then Finance Minister Devendra Fadnavis announced in his budget speech for 2023-24, the implementation of the Pradhan Mantri Fasal Bima Scheme for the farmers in the state against just Rs.1 and went on to execute the same accordingly. The Rs.1 crop insurance scheme saw a huge response from the farmers. Nearly two and a half lakh applications were received for the insurance of Kharif crops in 2023, of which 52 lakh 26 thousand 111 farmers were selected, and disbursements of Rs. 5,292 crore were made to the beneficiary accounts. <\/p>\n\n\n\n
Maharashtra’s Rs. 1 crop insurance program is part of the Pradhan Mantri Fasal Bima Yojana (PMFBY). The scheme provides insurance coverage and financial support to farmers in the event of crop failure caused by natural calamities, pests, and diseases. Additionally, PMFBY aims to stabilize farmers’ income to ensure they continue farming. <\/p>\n\n\n\n
The central government\u2019s Pradhan Mantri Fasal Bima Kharif Season Scheme was launched in 2016 during Devendra Fadnavis\u2019 first term as the CM of Maharashtra. The scheme benefitted a record number of farmers in the state. Statistics reveal that during the 15-year rule of the Congress-NCP government in the state from 1999 to 2014, 1.8 crore farmers received a total of Rs. 7680 crore as claim disbursals from the crop insurance schemes of the corresponding central governments. Whereas, in the four years from 2014 to 2018, with Narendra Modi as the PM and Devendra Fadnavis as the CM of Maharashtra, 2.14 crore farmers in the state received an aggregate claim amount of Rs. 11,952 crore through the Pradhan Mantri Fasal Bima Kharif Season Scheme. That is, before 2014, farmers received an average of Rs 512 crore per year and after 2014, after the formation of the Narendra Modi government, farmers received an average of Rs 2,988 crore per year.<\/p>\n\n\n\n