The Centre’s move to reduce its subsidy share in the case of high premium crops under its flagship agricultural insurance scheme will not increase the cost to farmers, said Pradhan Mantri Fasal Bima Yojana (PMFBY) CEO Ashish Kumar Bhutani. However, it should spur States to take steps to ensure that premiums are reduced, he added. “Farmers share of premium under PMFBY is not going to change under any circumstances,” said Dr. Bhutani at The Hindu Business Line’s Agri Summit on Friday. The scheme, which has so far been mandatory for farmers with crop loans, is becoming optional from April and is expected to see a 30% drop in enrolment. In such a scenario, Dr. Bhutani was at pains to
Month: February 2020
16-point action plan for agriculture evokes mixed response
The proposed 16-point action plan to boost agriculture and farmer welfare presented in the Union Budget proposals 2020-21 on Saturday has evoked a mixed response from industry players and farmer outfits.Expressing disappointment, edible oilseed industry body Solvent Extractors’ Association of India said they expected at least this year the Union Finance Minister will come out with a package of incentives for higher production and productivity of oilseeds to reduce our dependence on import of edible oils.“The expectation of the industry was higher. We were expecting that the Finance Minister will also announce creation of an “Oilseed Development Fund”. It is disappointing that the above did not reflect in the Budget,” said Atul Chaturvedi, Executive Direstor, SEA. Terming the Budget as