Thestate governmenthas decided to continue with afresh Insurance cycleunder the Pradhan Mantri Fasal Bima Yojana (PMFBY) to protectfarmersfrom any crop loss due to weather uncertainties.
A resolution in this regard has been passed by the department of cooperation on Wednesday intimating the continuation of the insurance cycle for farmers from this kharif season to the rabi season of 2025-26.
Under PMFBY, the final yield of the farmer is insured along with losses due to prevented sowing, mid-season adversity, localised calamity and post-harvest damages. The scheme is implemented by insurance companies selected once in every three years by the state.
Farmers usually pay premium at two per cent of the sum insured for kharif and 1.5 per cent for rabi for all crops except commercial crops. The differential amount of the premium in the meantime is equally paid as subsidy by Centre and the .
This year, a fresh insurance cycle from kharif-2023 to rabi 2025-26 has been started and the state government has decided to continue with crop insurance. Four insurance companies have been selected through e-tender for this cycle, reads the resolution.