Karnataka bags second place in Pradhan Mantri Fasal Bima Yojana crop insurance rollout
GS3Economy · S&T · Environment · Security· MSP, procurement, PDS & food security· Prelims·
Why in news
The Union Agriculture Ministry issued a Certificate of Commendation to Karnataka for securing second place among large states in the implementation of the Pradhan Mantri Fasal Bima Yojana (PMFBY).
Background
Karnataka achieved second place among large states in PMFBY rollout. The Union Agriculture Ministry recognized the state for effective implementation and timely compensation to farmers facing crop losses due to natural calamities, pests, and diseases.
Facts for Prelims
- SchemePMFBY: A central government scheme aimed at protecting farmers from crop losses due to natural calamities, pests, and diseases.
- FactKarnataka secured second place among large states in the PMFBY crop insurance rollout.
- BodyThe Union Agriculture Ministry is the nodal body responsible for the PMFBY rollout and commendations.
For Mains
Q. Evaluate the role of the Pradhan Mantri Fasal Bima Yojana in ensuring agricultural resilience against climate-induced risks and systemic crop failures in India.
Dimensions to cover in your answer
- Information asymmetry: Challenges in timely crop-loss assessment and premium collection at the village level
- Fiscal sustainability: Balancing timely compensation payouts with the financial viability of the insurance pool
Keywords: Agricultural resilience · Risk mitigation · Crop insurance · Climate-smart agriculture · Social security for farmers
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