Bihar committed to implement Pradhan Mantri Fasal Bima Yojana: Minister

Patna,(BiharTimes): The Bihar government is committed to implement Pradhan Mantri Fasal Bima Yojana (PMFBY) but was facing practical difficulties in the crop insurance scheme as it would increase financial burden on the exchequer due to high rates of premium amount in the state.

This was stated by the Cooperative minister Alok Kumar Mehta in the Legislative Council on the concluding day of the Monsoon Session on Thursday.

He said the the Centre should share 90 per cent of the premium amount, besides bringing uniformity in the premium rates of various states, in order to implement PMFBY in the state.

According to the minister there is no uniformity in the premium rate of various states. Bihar’s average minimum weighted premium was 14.92 per cent after the bidding in which six insurance companies participated. The premium rate of Bengal is 3.25 per cent, UP 4.09 per cent, Chhattisgarh 4 per cent, Madhya Pradesh 9.55 per cent and Jharkhand 13.82 per cent.