Crop Insurance Current Affairs - 2020

Union Cabinet approves Revamping of PM Fasal Bima Yojana and RWBCIS schemes to address challenges

On February 19, 2020, the Union Cabinet approved revamping of challenges in insurance schemes such as Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS). Highlights The following changes are to be undertaken in the crop insurance schemes The time period for an insurance company to work under the scheme Read More…

Pradhan Mantri Fasal Bima Yojana: 4th National Conference held in Udaipur

On February 17, 2020, the fourth National Conference of Pradhan Mantri Fasal Bima yojana was held in Udaipur, Rajasthan. The Conference was organized by Ministry of Agriculture and Farmers Welfare. Highlights The Conference was attended by more than 140 members. It included members from NABARD (National Bank of Agriculture and Rural Development), RBI (Reserve Bank Read More…

SBI Ecowrap Report recommends Unconditional Cash Transfer to Farmers

The SBI Ecowrap report recommends the government to opt for the unconditional cash transfer to farmers to alleviate agrarian distress rather than Universal Basic Income (UBI) scheme. Why does the SBI report recommend unconditional cash transfer? The report has recommended the unconditional cash transfer based on the following reasons: Currently, it is not feasible to Read More…

Union Cabinet approves Pradhan Mantri Fasal Bima Yojana

The Union Cabinet has approved Pradhan Mantri Fasal Bima Yojana, a new crop insurance scheme to boost farming sector in the country. It is farmers’ welfare scheme that aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum. Highlights of Scheme Uniform premium: Farmers Read More…

Union Government launches KISAN Project and Hailstorm App for crop damage

Union Government has launched KISAN (Crop Insurance using Space Technology and Geoinformatics) Project to benefit farmers. This project will favour use of satellites, drones (unmanned aerial vehicles) and other geospatial technology to collect crop yield data and to assess damage from natural calamities. Key facts Drones will help to take high resolution imagery of crop Read More…