HDFC ERGO General Insurance Company, a prominent player in India’s insurance sector, has been selected by the Government of Tripura to roll out the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the Kharif 2024 season.
The scheme will provide comprehensive crop insurance for loanee and non-loanee farmers in the districts of Dhalai, Gomati, Khowai, South Tripura, and others, offering financial protection against a spectrum of agricultural risks.
Under this initiative, Aman paddy, the primary crop in these districts, will be insured for ₹85,922 per hectare, with a farmer contribution rate of 2%. The cut-off date for enrollment is August 31, 2024.In South Tripura, where agriculture is the backbone of the local economy, the introduction of PMFBY is poised to stabilize the market by reducing the financial uncertainties farmers face. This insurance scheme is anticipated to encourage greater investment in crop cultivation, leading to increased productivity and economic resilience in the region’s agricultural sector.
