Union Home Minister Rajnath Singh on Wednesday announced new crop insurance scheme for farmers and said it is one of the historic step Central government is planning in coming days.
He said the scheme will be named as 'Pradhan Mantri Fasal Beema Yojna'.
"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 Beema Yojna," 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.