Despite certain difficulties faced by bankers in the implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY), banks in the Gujarat have so far enrolled 10.67 lakh farmers under this scheme.
“As on August 31 2017, 23 lakh hectares and 10.67 lakh farmers have been covered under the PMFBY,” said Vikramaditya Singh Khichi, convenor of SLBC-Gujarat who made a presentation on the subject at a State Level Banker’s Committee (SLBC)- Gujarat meeting on Saturday.
This is about one-fourth of the total cultivable area of 99 lakh hectares. A premium of Rs 365 crore have so far been collected from farmers enrolled under PMFBY and the sum insured is Rs 11,000 crore.
“There are many farmers who do not take loans. Similarly, there are farmers who many not be growing notified crops as mentioned in the yojana, so to say that only one-fourth of the cultivable area in Gujarat has been covered under PMFBY will not be correct,” Khichi added.
The notified crops under PMFBY for Kharif season are paddy, cotton, jowar, ragi, tur, moong, math, urad, groundnut, sesame, maize, castor, banana and bajra, while those for Rabi season are wheat, rapeseed, gram, fennel, mustard, isagbol, onion, garlic, potato, groundnut and bajra.
According to the SLBC report, the banks in Gujarat are also facing difficulties in the implementation of PMFBY. This includes “inordinate delay” in finalisation of implementing agency by the state government for Kharif season 2017 and the undue pressure created on the bankers.