The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched by the Government of India under the leadership of Prime Minister Narendra Modi for Indian Farmers to provide financial support, insurance and Agriculture Sector Growth.
PMFBY Scheme was introduced on 13 January 2016 and Implemented from the Kharif season of the year 2016. Pradhan Mantri Fasal Bima Yojana replaced earlier schemes like the National Agricultural Insurance Scheme (NAIS) and Modified NAIS (MNAIS) to provide a more farmer-friendly and efficient insurance coverage on Agriculture field.
By providing farmers financial support and Insurance coverage for crop loss or damage brought on by unanticipated circumstances, like pests , natural calamities, diseases, the Pradhan Mantri Fasal Bima Yojana (PMFBY) aims to support sustainable production in the agricultural sector.
Main Objective of PMFBY:
Agriculture sector is one of most important sector in India, Rural India mainly depends upon this sector. According to the Indian Economic Survey 2020–21, agriculture accounted for 20.2% of the nation’s GDP and employed over 50% of the workforce. Other Industry sectors mainly depends upon Demand and Supply formula but Agriculture sector Mainly depends upon Weather, Rains, Soil, Natural Disasters. So it is very important to provide Insurance and financial support to the farmers for continuous production, Encouragement, Sector Growth.
- Maintaining Farmers’ financial stability to guarantee their continued farming.
- Encouraging and Motivating farmers to embrace cutting-edge, contemporary farming methods.
- Ensuring the flow of money to the agricultural sector in order to secure farmers from production risks and to promote crop diversification, food security, and the sector’s growth and competitiveness.
Coverage:
As part of the General Crop Estimation Survey, the Scheme covers all “Food & Oilseeds crops” and “Annual Commercial/Horticultural Crops” for which previous yield data is available and for which the necessary number of Crop Cutting Experiments (CCEs) will be carried out.
Coverage is available to all farmers cultivating the notified crops in the notified areas, including tenant farmers and sharecroppers. Farmers should, however, have an insurable stake in the crops that are notified or insured.
For loanee farmers taking on Crop Loans or KCC accounts to cover notified crops, the program is required. For other/non-loanee farmers with an insurable interest in the insured crop or crops, it is optional.
Post-Harvest Losses (individual farm basis): Benefits include protection against specific cyclone/cyclonic rain hazards and unseasonal rains nationwide for crops that are kept in “cut & spread” condition to dry in the field after harvesting, up to a maximum of 14 days after harvest.
Yield Losses: Complete risk insurance is provided to protect against yield losses due to unavoidably risks such as natural fires and lightning. Storms, hailstorms, cyclones, typhoons, tempests, hurricanes, tornadoes, and more. Floods, floods, and landslides; droughts and dry times. Pests/Diseases, etc.
Localized Disasters (on a farm-by-farm basis): damage or loss brought on by the occurrence of specific local disasters , such as landslides, hailstorms, and flooding, that impact a few farms in the notified region.
Prevented Sowing (on a notified area basis): If the majority of insured farmers in a notified area intend to plant or sow the insured crop and have paid for it, but are unable to do so because of unfavorable weather, they may be entitled to indemnity claims up to a maximum of 25% of the sum insured.
Insufficient rainfall or unfavorable seasonal or meteorological circumstances prevent the insured region from sowing, planting, or germination.
Complete risk insurance is offered for standing crops (from sowing to harvesting) to protect
yield losses brought on by unavoidable risks, such as drought, dry spells, floods, inundations, attacks by common pests and diseases, landslides, natural fires, lightning, storms, hailstorms, and cyclones.
| Harvesting Season | Crops | Maximum premium payable by the farmer (as a percentage of the sum assured) |
| Kharif | All food grains and oilseed crops (including cereals, millets, pulses, and oilseeds) | 2.0% of SI or Actuarial rate, whichever is less |
| Rabi | All food grains and oilseed crops (including cereals, millets, pulses, and oilseeds) | 1.5 % of SI or Actuarial rate, whichever is less |
| Kharif and Rabi | For Commercial and Horticulture crops | 5% of SI or Actuarial rate, whichever is less |
The Rate of Normal Premium Subsidy payable by farmers, which shall be shared equally by the Centre and State Governments.
What is Actuarial Rate : The rate that actuaries use to determine the reserves, premiums, and other financial components of an insurance policy, pension plan, or other financial instrument is known as the actuarial rate.
Documents Required for PMFBY :
- Bank account number.
- Aadhaar card.
- Passbook number of land.
- Agreement photocopy.
- Ration card.
- Voter ID.
- Driving license.
- Passport-size photograph of the farmer.
Agencies for Implementation:
In coordination with a number of other agencies, including financial institutions such as commercial banks, cooperative banks, regional rural banks and their regulatory bodies, government departments such as agriculture, cooperation, horticulture, statistics, revenue, information/science & technology, panchayati raj, etc., the scheme will be implemented through a multi-agency framework by a few chosen insurance companies under the general direction and control of the Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW), Ministry of Agriculture & Farmers Welfare (MoA&FW), and the relevant State.
Notified Area : The unit of insurance chosen by the state government to notify a crop during a season is known as the “Notified Area.”
General Exclusions:
General Exclusions: Intentional destruction, war-related losses, nuclear risks and other preventable Risks are not covered.
Application Process : Online
How to Apply?
Farmers who want to apply must go to the PMFBY official website.
Select “Farmer Corner.”
Click Guest Farmer if the candidates don’t already have an account on the portal.
After completely entering the all the information,
click on Submit option. It will create an account.
Complete the insurance plan’s form and enter the necessary information.
How to Claim?
- In case of crop loss, farmers are required to file a claim with the insurance company within the prescribed time frame, which is generally within 72 hours of the occurrence of the loss.
- List of concerned person/company details on the portal and click in “Report Crop Loss” or download the app and report crop loss.
- The claim must be accompanied by supporting documents, such as photographs of the damaged crop and a report from the village-level committee (VLC) or the agriculture department.
FAQ’S:
1.Can Tenant Owner Covered under PMFBY Scheme?
Yes, Tenant who took someone else’s farm also eligible for this scheme. Get the benefits same as Actual Owner and He / She gets Insurance coverage under this scheme.
2. How to know the insurance premium under PMFBY?
Go to the website PMFBY (www.pmfby.gov.in) and search for insurance premium calculator. Give the Complete details and get the premium amount.
3. Is it allowed to claim if my land is effected by natural disasters?
Yes, you can claim through crop insurance app. you must inform to relevant official through Crop Insurance App or toll free number or to the representatives from insurance company or directly visiting insurance office before 72 hours of incident.
4. What are the Documents required to apply PMFBY Scheme?
Bank account number. Aadhaar card. Passbook number of land. Agreement photocopy. Ration card. Voter ID. Driving license. Passport-size photograph of the farmer.
5.Can I apply for the scheme online myself?
Yes, One can apply for the PMFBY Scheme on his own by creating account in PMFBY Portal
6. Can i check the status of my PMFBY application?
Yes, you can the application form status through the online. Go to the website and enter the application number and check the PMFBY Insurance status.
7.When should one report the crop loss?
Within 72 hours of calamity one can report the crop loss through mobileapp or tollfree number or Directly contacting insurance company or representatives.
8. What is the initial claim process?
The farmer should intimate about the crop loss within 72 hours of the calamity through Mobile Application, the centralized Toll-Free Number, directly to the Insurance Company through its dedicated toll-free number or through the concerned bank, local agriculture department Government/district officials. However, the first mode of intimation should be either Crop Insurance App or the centralised Toll-Free Number. After that duly filled intimation / application of crop insurance app along with all relevant documents is necessary for initiation of loss assessment and payment of claims.
9. Do you get message/SMS on mobile phone after receiving PMFBY Insurance amount?
Yes, you will notification about your disbursed amount on mobile phone through insurance.
Note: Please visit official website or Contact nearest CSC Center for more details. whatever information we are posting here is collected from other internet sources. Please cross check before Application and we are not responsible for any loss.
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