Maharashtra has witnessed an unprecedented response to the Pradhan Mantri Fasal Bima Yojana (PMFBY) after the state government allowed farmers to insure their crops by paying a nominal premium of just one rupee. This remarkable move has led to a staggering 1.5 crore applications from 68.78 lakh farmers till July 31, making Maharashtra the leading state in terms of registration under the scheme. Previously, farmers contributed 2-5 per cent of the premium, while the state and Centre shared the remaining burden.
The Progressive Change
Deputy Chief Minister Devendra Fadnavis announced during his Budget speech in March that farmers could avail PMFBY by paying just one rupee as the premium. The scheme received a budgetary allocation of Rs 3,312 crore for its implementation. Since then, the number of applications has skyrocketed, surpassing all previous records.
Enabling Factors and Favorable Circumstances
Agriculture Commissioner Sunil Chavan attributed the surge in enrolment to a dedicated drive to boost participation. The administration, along with insurance companies, conducted outreach programs that significantly contributed to the increased registration numbers. Moreover, the scheme’s popularity grew among farmers as the state faced unpredictable weather patterns and extreme climate events in recent years.
The current year experienced sporadic heavy rainfall, motivating more farmers to opt for PMFBY to safeguard their crops. Delayed monsoon arrival further affected the sowing process, but once the monsoon reactivated in July, Maharashtra managed to overcome its rainfall deficit status rapidly. However, certain districts like Nanded, Latur, Bhandara, and some parts of Konkan faced flooding due to the excessive downpour.
Farmers’ Confidence in PMFBY
The sense of financial security offered by PMFBY has resonated strongly with farmers, encouraging them to wholeheartedly embrace the scheme. The option of insuring their crops at a minimal cost has appealed to their practicality and has been particularly welcomed in light of the region’s vulnerability to adverse weather conditions.
Deadline Extension
Recognizing the overwhelming response, the Central Government extended the enrolment date for PMFBY by three days, allowing more farmers to benefit from the scheme. This extension demonstrates the government’s commitment to supporting the agricultural community and mitigating potential losses due to crop damage.
