08 April , New Delhi
The Union Government has reduced the eligibility for getting compensation for crop damage due to natural calamity or unseasonal rain from 50 percent to 33 percent. The government also increased the quantum of compensation to affected farmers by 50 percent.
Launching the Micro Units Development and Refinance Agency, MUDRA bank in New Delhi Wednesday , Prime Minister Narendra Modi said the existing parameters have not been able of help farmers in today’s condition.
Modi also asked the banks and insurance companies to restructure their credits so that farmers are brought out of this situation.
Unseasonal rains and hailstorms during this month have damaged rabi crops in 106.73 lakh hectares of area across 14 states.