Table of Contents

Introduction to Pradhan Mantri Fasal Bima Yojana

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Government of India in 2016 with the goal of providing financial protection to farmers against crop losses due to natural calamities. The scheme aims to provide affordable and comprehensive crop insurance coverage to farmers and to reduce their vulnerability to the risks associated with farming.

Goals and Objectives of Pradhan Mantri Fasal Bima Yojana

The main objectives of the PMFBY are:

To provide financial protection to farmers against crop losses due to natural calamities such as drought, flood, cyclone, hailstorm, and unseasonal rain.

To provide affordable and comprehensive crop insurance coverage to farmers, including small and marginal farmers, as well as farmers from economically weaker sections.

To reduce the vulnerability of farmers to the risks associated with farming and to improve their resilience to natural disasters.

To encourage farmers to adopt best practices in farming and to invest in new technologies and inputs to improve crop productivity.

To improve the availability of credit to farmers and to reduce the burden of debt on farmers.

To reduce the dependence of farmers on Government support in the event of crop losses.

To promote the use of technology and digital platforms to improve the delivery and administration of the scheme.

To improve the transparency and accountability of the scheme and to ensure that the benefits reach the intended beneficiaries.

Overall, the goal of the PMFBY is to provide financial protection to farmers against crop losses due to natural calamities and to reduce their vulnerability to the risks associated with farming and improve their resilience to natural disasters.

Eligibility criteria for Pradhan Mantri Fasal Bima Yojana

The eligibility criteria for the Pradhan Mantri Fasal Bima Yojana (PMFBY) is as follows:

The scheme is open to all farmers who own cultivable land and have a valid landholding record.

The scheme is mandatory for farmers who have availed institutional credit for the notified crops.

The scheme is voluntary for farmers who have not availed institutional credit for the notified crops.

The scheme covers all notified crops grown in the notified area.

The scheme is implemented through the State Governments/Union Territories and farmers can contact the local authorities for more details on the scheme.

The scheme is open to all farmers, including small and marginal farmers, as well as farmers from economically weaker sections.

Note: The above-mentioned are general eligibility criteria, and it may vary from state to state. It is recommended to check with the local authorities for the specific eligibility criteria.

Overview of the benefits provided under Pradhan Mantri Fasal Bima Yojana

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme that provides a range of benefits to eligible farmers in order to protect them against crop losses due to natural calamities. The specific benefits provided under the scheme are:

Financial protection against crop losses: The scheme provides financial protection to farmers against crop losses due to natural calamities such as drought, flood, cyclone, hailstorm, and unseasonal rain.

Comprehensive coverage: The scheme provides comprehensive coverage that includes all notified crops grown in the notified area.

Affordability: The scheme provides affordable insurance coverage to farmers, including small and marginal farmers, as well as farmers from economically weaker sections.

Low premium rate: The scheme has low premium rate, which is shared between the Centre, State and farmers.

Easy enrollment: The scheme is easy to enroll, and farmers can contact the local authorities for more details on the scheme.

Crop cutting experiment: The scheme uses the crop cutting experiments method for the calculation of crop loss.

Use of technology: The scheme promotes the use of technology and digital platforms to improve the delivery and administration of the scheme.

Transparency: The scheme improves the transparency and accountability of the scheme and ensures that the benefits reach the intended beneficiaries.

Overall, the PMFBY scheme provides financial protection to farmers against crop losses due to natural calamities, comprehensive coverage, affordability, low premium rate, easy enrollment, use of technology and transparency, to ensure farmers are protected against crop losses and can continue to farm with minimal disruptions.

How to apply Pradhan Mantri Fasal Bima Yojana

The process of applying for the Pradhan Mantri Fasal Bima Yojana (PMFBY) can vary depending on the specific state you are in. However, here is a general overview of the process:

Check Eligibility: Check if you are eligible for the scheme by going through the eligibility criteria mentioned earlier

Contact the Local Authorities: Contact the local authorities such as Agriculture department, bank or insurance company for more details on the scheme, and to obtain the application form.

Fill in the Form: Fill in the form with the required details such as personal information, landholding details, and crop details.

Submit the Form: Submit the completed form along with the required documents, such as proof of residence, landholding records, and crop insurance records, to the authorized agency.

Verification of Documents: The submitted documents will be verified by the authorized agency.

Approval: If the application is found to be eligible, it will be approved and the applicant will be notified of the amount of financial assistance to be provided.

Payment of premium: Once the application is approved, the applicant will pay the premium and will receive the insurance coverage for their crop.

Note that the above-mentioned is a general overview of the application process and it may vary from state to state. It is recommended to check with the local authorities for the specific process and also check the official website of the Ministry of Agriculture and Farmers Welfare for more information.

Impact of the scheme on the crop insurance coverage for farmers in India

The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched by the Government of India in 2016 with the goal of providing financial protection to farmers against crop losses due to natural calamities. Since its launch, the scheme has had a significant impact on the crop insurance coverage for farmers in India.

One of the major impacts of the scheme is that it has helped to increase the coverage of farmers under crop insurance. Before the launch of PMFBY, the coverage of farmers under crop insurance was low, with only around 20% of farmers being covered. However, with the launch of PMFBY, the coverage has increased to around 50%.

The scheme has also helped to increase the affordability of crop insurance for farmers, especially small and marginal farmers, by reducing the premium rates and increasing the government subsidies.

PMFBY has also helped to reduce the burden of debt on farmers by providing financial protection against crop losses. This has helped to improve the creditworthiness of farmers and to increase their access to credit.

The scheme has also helped to promote the use of technology and digital platforms to improve the delivery and administration of the scheme, resulting in a more efficient and transparent process.

Overall, the PMFBY scheme has had a positive impact on the crop insurance coverage for farmers in India and has helped to improve their financial protection against crop losses, affordability, and access to credit.