Farmers Seek Interest on Delayed Crop Insurance Payouts

Quick Summary

• Senior advocate and farmer activist Vaijnath Zhalki called on the Karnataka government and insurance companies to settle delayed crop loss claims for 2024 under the pradhan Mantri Fasal Bima Yojana (PMFBY).
• Farmers are eligible for compensation with an additional 12% interest if insurance claims are not settled within the stipulated deadline under PMFBY guidelines.
• Mr. Zhalki stressed the need to promote crop insurance through awareness campaigns at the gram panchayat level to overcome low enrollment rates.
• In Kalaburagi district, only 2.5 lakh farmers out of approximately seven lakh engaged in agriculture opted for crop insurance in 2024.

Indian Opinion Analysis

The concerns raised by activist Vaijnath Zhalki about delayed crop insurance payments highlight critical gaps in executing PMFBY effectively. While compensatory interest offers legal protection, timely claim settlements remain essential to safeguard farmers from prolonged financial distress after crop losses, especially amid erratic climate conditions impacting agriculture.Moreover, low enrollment figures reflect a lack of awareness or logistical hurdles among farmers regarding PMFBY benefits. Addressing this issue through targeted education and simplified procedures could help bridge this gap across rural karnataka and similar regions nationwide. The suggested gram panchayat-level campaigns have potential as they align outreach efforts with grassroots governance structures-bringing information directly to beneficiaries.

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