The Bihar government agreed to implement the Pradhan Mantri Fasal Bima Yojana on an experimental basis in the kharif season. Keeping in mind the sentiments of cooperative federalism, the state government has decided to implement the Pradhan Mantri Fasal Bima Yojana (PMFBY) in the state.
Bihar's Cooperative Minister Alok Kumar Mehta informed, "On an experimental basis for the kharif season, the crop insurance scheme will be implemented in its present form."
He cleared that to see whether scheme is actually helps formers or end up benefitting the insurance companies and it would also be seen what amount of compensation the farmers get in the event of crop loss, this scheme is being implemented on a trial basis. The last date for implementation of the scheme is August 15 and adding that the state government would extend the deadline if needed.
The scheme should have been named 'PM-CM farmer insurance scheme' or 'Kendra-Rajya Fasal Bima Yojana' by Bihar Chief Minister Nitish Kumar instead of being named exclusively after the Prime Minister as both the Centre and states have to bear the financial burden of its implementation .