The 2017-18 subsidy bill for the states and the Centre due to the Pradhan Mantri Fasal Bima Yojna (PMFBY) is set to increase 10-15 per cent as the scheme enters the second year.
The farmers’ coverage is expected to increase by 10-15 per cent. In several states, insurers have raised premium quotations by five-seven per cent.
In 2016-17, the central government had shelled out around Rs 8,867 crore and states Rs 9,056 crore to subsidise the PMFBY, which gives farmers crop insurance at low premiums and higher coverage.
