Recently the Central Government has approved an investment of Rs 30 thousand crore for the expansion of the Prime Minister Crop Insurance Portal.

Recently the Central Government has approved an investment of Rs 30 thousand crore for the expansion of the Prime Minister Crop Insurance Portal.

Daily Current Affairs   /   Recently the Central Government has approved an investment of Rs 30 thousand crore for the expansion of the Prime Minister Crop Insurance Portal.

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Category : Business and economics Published on: October 28 2023

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  • Pradhan Mantri Fasal Bima Yojana is a central sector scheme.
  • Pradhan Mantri Fasal Bima Yojana was launched by Prime Minister Narendra Modi on February 18, 2016.
  • Recently, the Economic Affairs Committee of the Union Cabinet has approved an investment of Rs 30 thousand crore for the expansion of the portal of this scheme.
  • With this amount the insurance coverage has been expanded to include a wide range of agricultural assets other than crops.
  • The primary objective of this initiative is to transform the scheme into a comprehensive platform that will extend additional insurance coverage to crops covering a wide range of agricultural assets such as ponds, tractors, livestock and palm trees.
  • 40 million farmers will benefit from this scheme through the new AIDE app.
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