HDFC ERGO General Insurance Company is making waves with its latest initiative to implement the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the Kharif 2024 season across Tripura. This landmark move, sanctioned by the Government of Tripura, will provide crucial insurance coverage for both loanee and non-loanee farmers in the districts of Dhalai, Gomati, Khowai, South Tripura, West Tripura, and others, safeguarding them against diverse agricultural risks.
With a coverage amount of ₹85,922 per hectare for Aman paddy and a farmer share rate of just 2%, the scheme is designed to shield farmers from uncertainties such as drought, floods, and pest attacks. Enrollment must be completed by August 31, 2024.
In West Tripura, where farming is integral to the local economy, the PMFBY scheme promises to revitalize the market. Farmers are expected to see increased financial stability and confidence, which could spur greater agricultural investment and enhance market dynamics. The scheme’s promise of protection and security is likely to lead to a more robust and resilient agricultural sector in West Tripura.
