Union Home Minister Rajnath Singh on Wednesday said that the Union Cabinet has decided to launch a new crop insurance scheme for the farmers and described the initiative as 'historic'. He said that the scheme would be called 'Pradhan Mantri Fasal Bima Yojana'.
“During the Cabinet Meeting chaired by Prime Minister Narendra Modi, an important decision has been taken. The historic decision pertains to the insurance of crops. We have decided to launch a new crop insurance policy called Pradhan Mantri Fasal Bima Yojana,” he said at a media briefing after the Cabinet meeting here. Union Parliamentary Affairs Minister M. Venkaiah Naidu, Agriculture Minister Radha Mohan Singh and Agriculture Secretary Siraj Hussain were also present at the briefing.