Dikhyaa Mohanty 
The Odisha government has decided to continue with the Pradhan Mantri Fasal Bima Yojana (PMFBY) from Kharfi-2023 to Rabi 2025-26. Four insurance companies have been selected through e-tender, namely – Agricultural Insurance Company of India Ltd, SBI General Insurance Company Ltd, Future General India Insurance Ltd, and Reliance GIC Ltd for the new insurance cycle.
The coverage of farmers under the crop insurance scheme has been about 10 to 12 lakh farmers, against the total cropping area of 60 lakh hectares and out of a total of about 50 lakh farmers having operational holdings.
To increase the coverage of farmers and cultivated areas, the Government of Odisha has taken some transformative decisions in the interest of farmers of the state. The farmers’ share of premium under the crop insurance scheme will be borne by the state government out of its resources from this Kharif season so that the small and marginal farmers are not deprived of the benefits of the scheme for want of premium money.
The premium subsidy extended by the state government is over and above the normal share of state subsidy under the scheme. However, this benefit has been limited to 2 hectares (about 5 acres) per farmer so that the resources of the state are targeted more towards the support of small and marginal farmers.
Farmers will have to enroll themselves under the scheme to avail the benefit, and to validate the bank accounts an amount of Re 1.00 will be debited from the concerned accounts of farmers as a token. Farmers registering for more than 2 hectares will have to pay their share of the premium over and above 2 hectares. The Cooperation Department of the Government of Odisha has issued a notification in this regard.
