Digital Transfer of Crop Insurance Payouts Marks Milestone for Farmer Welfare in India

Strategic Insights -

Union Minister for Agriculture & Farmers' Welfare, and Rural Development Shivraj Singh Chouhan, digitally transferred crop insurance payouts under the Pradhan Mantri Fasal Bima Yojana to farmers in Jhunjhunu, Rajasthan, marking a significant milestone in the government's commitment to farmer welfare. The event saw the disbursement of Rs.3,900 crore to nearly 35 lakh farmers, with a large number of farmers and beneficiaries participating virtually.

Key Takeaways:

  • The government has disbursed Rs.2.12 lakh crore to farmers under the Pradhan Mantri Fasal Bima Yojana since its launch in 2016.
  • The Union Minister highlighted the MSP (minimum support price) rates, ensuring they are set at 50% above production costs, and the procurement of moong at Rs.2,000 per quintal under the PM-AASHA scheme.
  • The government has provided Rs.3.75 lakh crore under the PM-Kisan Samman Nidhi Yojana, with a direct transfer of funds to farmers' accounts.
  • The Minister announced substantial fertiliser subsidies, with a 45-kg bag of urea costing Rs.266 against its actual price of Rs.1,633.24, and a 50-kg bag of DAP (Diammonium Phosphate) costing Rs.1,350 against its actual price of Rs.3,100.
  • The government has introduced a stringent law to punish offenders of counterfeit fertilisers, with the goal of ensuring strict action and imprisonment for the guilty.
  • The PM-AASHA scheme has transferred Rs.43.87 lakh crore to farmers' accounts for wheat and paddy procurement.
  • Under the Viksit Krishi Sankalp Abhiyan, teams of scientists will visit villages to share knowledge and assist farmers in dealing with crop virus attacks and other challenges.
  • The government aims to develop quality seeds for moong, urad, soybean, and millet to increase production, with a focus on demand-driven agricultural research.

Statistics:

  • Rs.2.12 lakh crore has been paid to farmers under the Pradhan Mantri Fasal Bima Yojana since its launch in 2016.
  • Rs.3.75 lakh crore has been directly transferred to farmers' accounts under the PM-Kisan Samman Nidhi Yojana.
  • Rs.3,900 crore was disbursed to nearly 35 lakh farmers under the Pradhan Mantri Fasal Bima Yojana in a single transfer.
  • Rs.14.06 lakh crore has been provided to fertiliser companies to ensure affordable fertilisers for farmers.
  • Rs.43.87 lakh crore has been transferred to farmers' accounts for wheat and paddy procurement under the PM-AASHA scheme.
  • Rs.266 is the cost of a 45-kg bag of urea against its actual price of Rs.1,633.24.
  • Rs.1,350 is the cost of a 50-kg bag of DAP (Diammonium Phosphate) against its actual price of Rs.3,100.

Sources:

  • Taxindiaonline.com Pvt.Ltd (2025)
  • Contify.com (2025)