The Morcha also thanked Prime Minister Narendra Modi for launching the scheme on January 13 and lauded his initiative in taking care of farmers woes.
"The scheme will go a long way in helping farmers who suffer from natural calamities. This is a historic step. It is a gift by Prime Minister to farmers on occasion of Lohri and Makar Sankranti. We thank Prime Minister for launching the much-needed scheme," Morcha chief Vijaypal Singh Tomar said.
Singh said the scheme will ensure transparency in granting compensation to farmers and will weed out corruption as the scheme envisages three-layered inspections through human inspection, satellite and the farmers self assessment.
(REOPENS DEL48)
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Singh said the Kisan Morcha had put forth suggestions during its just-concluded national executive meeting at Noida on January 11 and 12.
The scheme, he said, will prove to be a boon for farmers as the premium is very low and more benefits will be given to farmers at low premium, against the capping on returns earlier which has since been removed.
Malik said for the first time, a "fair and transparent pro-farmer scheme has been launched, as it will leave no scope for anybody's monopoly. We thank the Prime Minister for this."
In order to provide relief to drought-hit farmers, the government has announced a new Rs 8,800 crore crop insurance scheme, with significantly lower premium, to cover for loss of crop due to natural calamities.