He will also release guidelines for operationalisation of the Pradhan Mantri Fasal Bima Yojana, a path-breaking scheme for crop insurance, which was approved by the Union Cabinet last month.
Prime Minister Narendra Modi will address farmers at a Kisan Kalyan Mela at Sehore in Madhya Pradesh on Thursday, highlighting his Government's initiatives for the development of the agriculture sector and welfare of farmers.
He will also release guidelines for operationalisation of the Pradhan Mantri Fasal Bima Yojana, a path-breaking scheme for crop insurance, which was approved by the Union Cabinet last month.
The scheme will come into effect from the upcoming Kharif season. It envisages a uniform premium of 2 percent to be paid by farmers for Kharif crops, and 1.5 percent for Rabi crops. The premium for annual commercial and horticultural crops will be 5 percent.
There is no upper limit on the Government's subsidy for this scheme. The provision of capping the premium rate, which existed in earlier schemes, and resulted in low claims being paid to farmers, has been done away with. Farmers will get claims against the full sum insured, without any reduction.
The Prime Minister will also distribute soil health cards, and crop insurance settlement claims to select beneficiaries.
"Will be in Madhya Pradesh for a special programme- the Kisan Kalyan Mela, where I will interact with my farmer sisters & brothers," tweeted Prime Minister Modi.
"I look forward to releasing guidelines for operationalisation of Pradhan Mantri Fasal Bima Yojana, the path breaking crop insurance scheme," he said.
"Will distribute soil health cards & crop insurance settlement claims to some farmers during the programme," he added.
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