New policy for farmers: Odisha Govt likely to introduce new crop loss compensation policy

Bhubaneswar: The government of Odisha is reportedly planning to introduce a new policy for farmers related to crop damage compensation. The crop loss compensation policy will like have the same framework as the Biju Swasthya Kalyan Yojana(BSKY).

With this scheme, the state government plans to create its own fund to provide crop loss compensation to farmers. This will reassure the farmers who have to shoulder massive losses due to crop damage. The state government may introduce its own new crop loss compensation policy in the budget of the financial year 2023-24.

The farmers who have incurred more than 10 percent loss will likely be compensated under this scheme. Farmers of the state are struggling to get the crop loss insurance amount under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The state government seems to be preparing a blueprint to come up with its own plan so that farmers won’t have to face such problems. 

Under this scheme, registered farmers with insurance will get compensation like BSKY. The Pradhan Mantri Fasal Bima Yojana provides compensation to farmers who have suffered from 33 percent of crop loss. With the new policy of the state government, compensation will be given to farmers who have suffered more than 10 percent crop loss

For this, compensation amount per acre will be determined for irrigated and non-irrigated land in every panchayat. The state govt is planning to fix different compensation amount for other crops other than paddy.