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Pradhan Mantri Fasal Bima Yojana (PMFBY) is the government sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is the government sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.
Pradhan Mantri Fasal Bima Yojana (PMFBY) aims to support production in agriculture by providing affordable crop insurance to ensure comprehensive risk cover for crops of farmers against all non-preventable natural risks from pre-sowing to post-harvest stage, on an ‘Area Approach Basis’.
Hon'ble Prime Minister Shri Narendra Modi unveiled the new scheme Pradhan Mantri Fasal Bima Yojana (PMFBY) on 13 th January, 2016. This scheme will help in decreasing the burden of premiums on farmers who take loans for their cultivation and will also safeguard them against the inclement weather.
Jul 18, 2024 · Benefits. The benefits of this scheme are mentioned as under: Comprehensive insurance coverage for Kharif and Rabi crops. Add on the coverage available for specific circumstances. Optional for farmers, both loanee and non-loanee. Stability in the income of farmers so that they can continue farming. Premium Rate :
The Pradhan Mantri fasal bima yojana (PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields.
On 13th January 2016, the Government of India took a historic step towards strengthening risk coverage of crops for farmers of India and approved the flagship crop insurance scheme - the Pradhan Mantri Fasal Bima Yojana (PMFBY).
Highlights of the scheme. There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.
Jul 16, 2022 · Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme launched by the Union Government. It covers pre-harvest and post-harvest losses arising out of natural calamities (cyclones and unseasonal rains), pests, and diseases.
5 days ago · Pradhan Mantri Fasal Bima Yojana- PMFBY Scheme Details. The PMFBY launch date is 18 February 2016. Largest crop insurance scheme in India’s history and the world’s third-largest by premium: 29.19 crore farmer applications have insured their crops under the PMFBY scheme since 2016. Over ₹95,000 crore in claims paid to farmers since 2016, with a total premium of ₹17,000 crore paid by them.
