Chouhan to transfer claims of crop insurance on £ 3,200 CR to 30 lakh farmers on Monday

New -Delhi, August 10 (PTI) Minister of Agriculture, Shivraj Singh Chouhan, will transfer an amount of £ 3,200 crore among the Pradhan Mantri Fasal Bima Yojana (PMFby) to 30 Lakh farmers on Monday. The PMFby claim amount will be transferred at an event organized for this purpose in Jhunjhunu, Rajasthan. In addition to Chouhan, Bhajanlal Sharma, chief minister of Rajasthan, the Minister of Agriculture Bhagirath Choudhary, and the Minister of Agriculture, Kirodi Lal Mena, will attend the event. Of the total claim amount, £ 1.156 crore to farmers in Madhya Pradesh, £ 1.121 crore to 7 Lakh farmers in Rajasthan, £ 150 to Chhattisgarh-based farmers, and was transferred according to an official statement. The Union Minister of Agriculture said that the center has implemented a new simplified claim for the settlement of the claim in the interests of farmers, in which claims can be paid evenly based on the central subsidy without waiting for the state’s premium contribution. “From the Kharif 2025 season, if a state government delayed its subsidy contribution, it would be penalized at 12 percent, and if insurance companies delayed the payments, farmers would receive a 12 percent fine,” he said in the statement. Since its launch in 2016, the PMFby has paid claims worth £ 1.83 Lakh Crore, while farmers paid only £ 35,864 in premium. “That means an average payout of more than five times the premium, indicating the government’s farmer’s -friendly policy,” he added. In recent years, several technological innovations, such as Yes-Tech, Winds Portal, Aide Mobile App, Krishi Rakshak Portal and Helpline number 14447, have been implemented. It not only improved the velocity and transparency of the claim settlement, but also improved the accuracy of the weather data and provided the farmers with registration facilities at village level.