PM Crop Insurance Scheme: ₹921 Crore to Be Deposited in Farmers’ Accounts Today

Under the Prime Minister Crop Insurance Scheme, the delayed compensation amount will be directly deposited into farmers' bank accounts today (Monday, August 11). This includes a total of 921 crores, with 809 crores for the Kharif season and 112 crores for the Rabi season. This amount will be distributed using the 'DBT' method, similar to the PM Kisan Samman Nidhi, and will be inaugurated by Prime Minister Narendra Modi.

Previously, compensation was directly deposited by insurance companies, but this time, for the first time, distribution will be centralized at the national level. Due to stricter compensation criteria, farmers are receiving a good amount this time. The compensation was delayed because the state government's insurance premium of 1,028 crore rupees was pending, but after it was deposited with the companies on July 13, the process accelerated.

In this season, 95.65 lakh farmers filed claims. Out of these, 80.40 lakh farmers have already received 3,588 crore rupees, while the remaining 15.25 lakh farmers will be given this amount of 921 crore rupees.

The main distribution program will be held in Jhunjhunu, Rajasthan. This decision by the central government will provide relief to many farmers, and it is expected that they will receive appropriate compensation for crop losses.