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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.
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. [1] It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes Agricultural insurance in India#National Agriculture Insurance Scheme and Modified ...
Pradhan Mantri Fasal Bima Yojana is the flagship scheme of the government for agricultural insurance in India in line with the One Nation-One Scheme theme. Annual Commercial / Annual Horticultural crops, oilseeds, and food crops (Cereals, Millets, and Pulses) are covered under the scheme.
- Objectives
- Highlights of The Scheme
- Farmers to Be Covered
- Risks Covered Under The Scheme
- Unit of Insurance
- How to Apply
- How to Report Crop Loss and Claim Insurance
- Revised Operational Guidelines For Pradhan Mantri Fasal Bima Yojna
- Related Resources
To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.To stabilise the income of farmers to ensure their continuance in farming.To encourage farmers to adopt innovative and modern agricultural practices.To ensure flow of credit to the agriculture sector.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 fa...There is no upper limit on Government subsidy. Even if balance premium is 90%, it will be borne by the Government.Earlier, there was a provision of capping the premium rate which resulted in low claims being paid to farmers. This capping was done to limit Government outgo on the premium subsidy. This capping h...The use of technology will be encouraged to a great extent. Smart phones will be used to capture and upload data of crop cutting to reduce the delays in claim payment to farmers. Remote sensing wil...All farmers growing notified crops in a notified area during the season who have insurable interest in the crop are eligible. To address the demand of farmers, the scheme has been made voluntary for all farmers from Kharif 2020. Earlier to Kharif 2020, the enrollment under the scheme was compulsory for following categories of farmers: 1. Farmers in...
Yield Losses (standing crops, on notified area basis). Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as Natural Fire and Lightning, Storm, Hailst...In cases where majority of the insured farmers of a notified area, having intent to sow/plant and incurred expenditure for the purpose, are prevented from sowing/planting the insured crop due to ad...In post-harvest losses, coverage will be available up to a maximum period of 14 days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field.For certain localized problems, Loss / damage resulting from occurrence of identified localized risks like hailstorm, landslide, and Inundation affecting isolated farms in the notified area would a...The Scheme shall be implemented on an ‘Area Approach basis’ i.e., Defined Areas for each notified crop for widespread calamities with the assumption that all the insured farmers, in a Unit of Insurance, to be defined as "Notified Area‟ for a crop, face similar risk exposures, incur to a large extent, identical cost of production per hectare, earn c...
Farmers can apply online for Crop Insurance at the link https://pmfby.gov.in/ To calculate the insurance premium payable, click here
The farmer can report crop loss within 72 hours of occurrence of any event through the Crop Insurance App,CSC Centreor the nearest agriculture officer. Claim benefit is then provided electronically into the bank accounts of eligible farmer.
Government has modified operational guidelines for Pradhan Mantri Fasal Bima Yojna (PMFBY) which is being implemented from 1st of October, 2018. New provisions in the operational guidelines of PMFBY 1. Provision of Penalties/ Incentives for States, Insurance Companies (ICs) and Banks i.e. 12% interest rate to be paid by the Insurance Company to far...
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’.
The Government of India launched the Pradhan Mantri Fasal Bima Yojana (PMFBY), a large scale crop subsidy insurance scheme to protect farmers. This scheme replaced the existing two schemes, i.e., National Agricultural Insurance Scheme (NAIS) and the Modified NAIS (MNAIS). This new crop insurance aligns with the One Nation – One Scheme Theme.
Launched in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is a large-scale crop subsidy insurance scheme that was aimed to safeguard farmers.
