The Union Cabinet chaired by the Prime Minister Shri Narendra Modi Wednesday January 13,2016
has approved the ‘Pradhan Mantri Fasal Bima Yojana’ – a path breaking
scheme for farmers’ welfare
The new scheme proposes a differential premium method, under which a
farmer will pay 2% of the sum insured as premium for kharif crops and
1.5% for rabi crops.
The scheme entails immediate payment of 25% of the due compensation, the money will go directly to bank accounts of the farmers
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