Explained: What is the Beed model of crop insurance Maharashtra is pushing for?

On Tuesday, Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi and asked him for state-wide implementation of the ‘Beed model’ of the crop insurance scheme Pradhan Mantri Fasal Bhima Yogna (PMFBY). How does the insurance scheme work? Launched in 2016, the flagship PMFBY insures farm losses against inclement weather events. Farmers pay 1.5-2% … Read more