The Government of Maharashtra on June 26, 2023, issued a notification regarding the implementation of the Pradhan Mantri Crop Insurance Scheme Cup & Cap Model (80:110) in the state for the seasons of Kharif 2023 to Rabi 2025-26 for the notified crops in the notified area by adopting the Area Approach. Accordingly, insurance companies have been selected as the implementation mechanism for 3 years.
The following are the key features of the scheme:
• The scheme shall apply only in the notified area for the crops notified under this order.
• Pradhan Mantri Crop Insurance Scheme is voluntary for borrowers as well as non-borrower farmers.
• Farmers doing clan or lease farming for notified crops in notified areas other than account holders are eligible to participate in the scheme. However, the tenant cultivator is registered (registered). Uploading of tenancy agreement on the pick insurance website is mandatory.
• The insurance premium to be paid by farmers under this scheme has been limited to 2 percent for the Kharif season, 1.5 percent for the Rabi season, and 5 percent for cash crops in Kharif and Rabi seasons. However, the decision to implement the Comprehensive Crop Insurance Scheme from 2023-24 vide reference no. 6 has been taken. The farmers have to register on the Pik Bima portal by paying only Rs.1/- per application. The rate of insurance premium per hectare determined under this scheme and the insurance premium amount to be actually paid by the farmers after deducting Rs.1/-, the remaining difference will be paid through the state government as the rate of normal premium subsidy.
• For all notified crops under this scheme for three years from Kharif season 2023 to Rabi season 2025-26. The risk level has been fixed at 70 percent.
• Threshold production of notified crops in the notified area will be determined by multiplying the average production of the last 7 years by the highest production of the 5 years, considering that crop’s risk level. The threshold product will be fixed for a period of three years and the insurance premium rate offered by the insurance company will also be fixed for this period of three years.
[Notification No. Prapivo-2023/Pro.No.52/11-A]
