Guwahati: The Pradhan Mantri Fasal Bima Yojana (PMFBY), an initiative by the central government, continues to provide support to farmers in Assam by impacting their livelihoods and agricultural stability, according to Assam Chief Minister Himanta Biswa Sarma.
Assam Chief Minister Himanta Biswa Sarma shared information on social media platforms that to date, 2.82 lakh farmers have enrolled in this scheme. In 2023-24, Rs 234.98 crore has been released to the farmers to cover their farm losses, Biswa Sarma shared.
According to the government, the PMFBY, launched in 2016, aims to provide comprehensive insurance coverage and financial support to farmers in the event of crop failure. It addresses the need to stabilise farmers' incomes, encourage innovative agricultural practices, and ensure the continuation of farming activities. The scheme covers a wide range of risks, including drought, floods, pest infestations, and other natural calamities that can cause significant damage to crops.
In Assam, where agriculture is a major economic activity and farmers frequently face challenges due to unpredictable weather patterns, the PMFBY is being seen as a game-changer by the government. The insurance scheme offers a much-needed safety net, ensuring that farmers are not left empty after a bad crop season. The state government, in coordination with various insurance companies, has been proactive in implementing the scheme, making sure that the claims process is swift and transparent.
ALSO READ: Wynk Studio artists’ songs surpass 1.7+ billion streams on Wynk Music
FIRST Business Portal addressing the potential of business capability of North East Region.
