According to Agriculture Ministry's data, all 17 insurance cos -- 5 public and 12 private -- empanelled under PMFBY registered a margin of Rs 15,029 crore as they paid out claims of a mere Rs 2,767 cr against Rs 17,796 cr collected as premium.
The Centre has put in place a new professional team to fast-track PMFBY and raise the coverage under the scheme to 50% of the gross cropped area in 2018-19, a govt official said.
Union Minister of State for Agriculture Gajendra Singh Shekhawat on Friday said 22,000 rural agriculture markets will be linked to make a national agricultural market by 2020.
The Centre has asked the state governments to use latest technology to ensure timely settlement of this year's insurance claims under the PMFBY, a senior official said.
The Haryana govt is offering guarantee to the farmers cultivating potato, onion, tomato and cauliflower that they will never incur any loss, said Solanki.
Gajendra Singh Shekhawat said implementation of NDA govt's ambitious crop insurance scheme the PMFBY is facing difficulties due to lack of cooperation from the states.
The amount is 53 per cent higher compared to Rs 10,498.90 crore received by the ministry in the same period last year, it said.
Agriculture Minister Radha Mohan Singh said even states have now been allowed to set up their own insurance companies.
The govt has decided to use 1.75 lakh CSCs and post offices in a big way to encourage more non-loanee farmers to take up crop insurance schemes.
Arun Jaitley here announced Rs 10 lakh crore for agriculture credit for the current fiscal year.