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Ministry of Agriculture and Farmers Welfare signs MoU with UNDP

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The Ministry of Agriculture and Farmers Welfare, Government of India and the United Nations Development Program (UNDP) have signed a Memorandum of Understanding (MoU) on the UNDP Centre's ambitious Pradhan Mantri Fasal Bima Yojana (PMFBY) and Kisan Credit Card - Revised Interest Subvention Scheme (PMFBY). KCC-MISS) will provide technical support.

Important facts :

• The MoU was signed by Mr. Ritesh Chouhan, CEO PMFBY and Ms. Shoko Noda, Resident Representative of UNDP in the presence of Union Agriculture Minister, Shri Narendra Singh Tomar.

• Under the MoU, UNDP will benefit from its expertise and global know-how in systems to support the Ministry of Agriculture for the implementation of joint agricultural credit and crop insurance.

• Farmers who have paid a premium of Rs 21000 crore under PMFBY have received more than Rs 1.15 lakh crore as compensation.

Pradhan Mantri Fasal Bima Yojana (PMFBY):

• The Pradhan Mantri Fasal Bima Yojana was launched by the Government of India on 13 January 2016 and was implemented from April 2016.

• Through the Crop Insurance App also, farmers can now know the status of their application and coverage details from the comfort of their homes and can also report crop loss.

• Pradhan Mantri Fasal Bima Yojana is doing important work in making them self-reliant by paying claims to the farmers in the event of crop loss.

• The contribution of the State Governments has been increased to 90:10, which was 50:50 earlier, in order to connect the farmers of North Eastern states more and more with the Pradhan Mantri Fasal Bima Yojana.

• Under this, farmers have to pay a uniform premium of only 2% for all Kharif crops and 1.5% for all Rabi crops, whereas in case of annual commercial and horticultural crops the premium is only 5%.

• All the farmers including the lessee/jotdar farmers growing the notified crops in the notified areas can get the benefit of this scheme.

• This includes all food crops (cereals, millets and pulses), oilseeds and annual commercial/annual horticulture crops.

Main Objectives of PMFBY:

• To provide insurance coverage and financial assistance to farmers in the event of failure of any of the notified crops as a result of natural calamities, pests and diseases.

• Stabilising the income of the farmers to ensure their continuous process in agriculture.

• To encourage the farmers to adopt innovation and modern methods in agriculture, as well as to ensure the flow of credit in the agriculture sector.

United Nations Development Program (UNDP):

• The United Nations Development Programme is a United Nations organization tasked with helping countries eliminate poverty and achieve sustainable economic growth and human development.

• At present there are 170 members.

• Headquarters: New York

• The current president (2021) : Achim Steiner.

Functions: Helps develop and build resilience to policies, leadership skills, partnership capabilities and institutional capabilities to fuel the development of a country.