On Monday, Agriculture Minister Shivraj Singh Chouhan will digitally transfer a crop insurance claim amount of Rs 3,200 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to 30 lakh farmer beneficiaries.
How Much Money Will Be Transferred?
Of the total claim amount, Rs 1,156 crore will be transferred to farmers in Madhya Pradesh, Rs 1,121 crore to 7 lakh farmers in Rajasthan, Rs 150 crore to Chhattisgarh-based farmers, and Rs 773 crore to farmers in other states, according to an official statement.
Farmers Affected By Natural Disasters
Deputy Minister of Odisha on X (formerly Twitter) wrote, "Under the Pradhan Mantri Fasal Bima Yojana, ₹3,200 crore is being credited today to nearly 30 lakh farmers affected by natural disasters. This is just the first installment—₹8,000 crore more will follow soon. As Odisha’s Agriculture Minister, I welcome this decisive step by Hon’ble Shri Shivraj Singh Chouhan ji. The provision of 12% interest for delayed claims ensures accountability and justice for our farmers. In Odisha, we remain committed to timely support and transparent delivery. If any farmer faces issues with the scheme, please reach out—we are here to serve you."
Rajasthan Event
During an event organised for this purpose in Jhunjhunu, Rajasthan, the PMFBY claim amount will be transferred. Besides Chouhan, Rajasthan Chief Minister Bhajanlal Sharma, Union Minister of State for Agriculture Bhagirath Choudhary, and state agriculture minister Kirodi Lal Meena will attend the event.
New Simplified Claim Settlement System
The Union agriculture minister stated that the Centre has implemented a new simplified claim settlement system in the interest of farmers, wherein claims can be paid proportionately based only on the central subsidy without waiting for the state's premium contribution.
Kharif 2025
"From the Kharif 2025 season onwards, if a state government delays its subsidy contribution, it will be penalised at 12 per cent, and similarly, if insurance companies delay payments, farmers will receive a 12 per cent penalty," he said in the statement.
Farmers Paying In Premiums
The PMFBY, since its launch in 2016, has disbursed claims worth Rs 1.83 lakh crore, while farmers have paid only Rs 35,864 crore in premiums. "This means an average claim payout of more than five times the premium, indicating the government's farmer-friendly policy," he added.
