Last Updated on July 27, 2024 by Rojgar Buddy Team
The Pradhan Mantri Fasal Bima Yojana (PMFBY) operates on the principle of One Nation, One Crop, One Premium. Its primary aim is to provide insurance coverage and financial support to farmers in case of crop failure due to natural calamities, pests, or diseases.
The scheme aims to stabilize farmers’ incomes, ensure their continued engagement in farming, and encourage the adoption of innovative and modern agricultural practices. Additionally, it seeks to ensure a steady flow of credit to the agriculture sector.
The implementation of PMFBY is carried out through a multi-agency framework involving selected insurance companies. This is done under the overall guidance and control of the Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW) and the Ministry of Agriculture & Farmers Welfare (MoA&FW), Government of India (GOI), along with the respective State governments.
Various other agencies such as financial institutions (Commercial Banks, Co-operative Banks, Regional Rural Banks and their regulatory bodies), and government departments (Agriculture, Co-operation, Horticulture, Statistics, Revenue, Information/Science & Technology, Panchayati Raj, etc.) are also involved in the coordination.
A Notified Area is the Unit of Insurance decided by the State Government for notifying a crop during a season.
The scheme covers yield losses due to non-preventable risks like natural fire, lightning, storms, hailstorms, cyclones, typhoons, tempests, hurricanes, tornadoes, floods, inundation, landslides, drought, dry spells, pests, and diseases.
For Prevented Sowing (on a notified area basis), if the majority of insured farmers in a notified area are unable to sow or plant the insured crop due to adverse weather conditions, they are eligible for indemnity claims up to a maximum of 25% of the sum insured.
Post-Harvest Losses (on an individual farm basis) are covered for up to 14 days from harvesting for crops kept in a “cut & spread” condition to dry in the field, against specific perils like cyclone/cyclonic rains and unseasonal rains across the country.
Localized Calamities (on an individual farm basis) cover loss or damage resulting from localized risks such as hailstorm, landslide, and inundation affecting isolated farms in the notified area.
Pradhan Mantri Fasal Bima Yojna: Benefits
- Comprehensive Insurance Coverage:
- Covers Kharif and Rabi crops.
- Add-on Coverage:
- Available for specific circumstances.
- Optional Participation:
- Open to both loanee and non-loanee farmers.
- Income Stability:
- Ensures stable income for farmers, enabling them to continue farming.
Premium Rates
- Kharif Season:
- Crops: Food & Oilseeds (all cereals, millets, oilseeds, pulses)
- Maximum Insurance Charges: 2.0% of Sum Insured (SI) or Actuarial rate, whichever is less.
- Rabi Season:
- Crops: Food & Oilseeds (all cereals, millets, oilseeds, pulses)
- Maximum Insurance Charges: 1.5% of Sum Insured (SI) or Actuarial rate, whichever is less.
- Kharif & Rabi Seasons:
- Crops: Annual Commercial / Annual Horticultural crops
- Maximum Insurance Charges: 5% of Sum Insured (SI) or Actuarial rate, whichever is less.
Subsidy Information
- The difference between the premium rate and the insurance charges payable by farmers is treated as the Normal Premium Subsidy.
- This subsidy is shared equally by the Centre and the State.
Pradhan Mantri Fasal Bima Yojna: Eligibility
- The farmer must be a cultivator or a sharecropper on the insured land.
- The farmer must possess a valid and authenticated land ownership certificate or a valid land tenancy agreement.
- Application for insurance coverage must be submitted within the prescribed time frame, typically within 2 weeks of the start of the sowing season.
- The farmer must not have received any compensation for the same crop loss from any other source.
- A valid bank account and valid identity proof must be provided at the time of enrollment.
- All farmers growing notified crops in a notified area during the season, with an insurable interest in the crop, are eligible.
Exclusions: Risks and Losses Not Covered
The following perils are excluded:
- War & Related Perils
- Nuclear Risks
- Riots
- Malicious Damage
- Theft
- Acts of Enmity
- Damage by Animals
- Grazing or destruction by domestic animals
- Grazing or destruction by wild animals
- Post-Harvest Losses
- Losses to harvested crops bundled and heaped before threshing
- Other Preventable Risks
Pradhan Mantri Fasal Bima Yojna: Online Application Process
- Visit the Official Portal: Go to the official website for the application.
- Click on Farmer Corner: Find and select the “Farmer Corner” option on the portal.
- Guest Farmer Account Creation:
- If you do not have an account, click on “Guest Farmer”.
- Fill in all the required details correctly.
- Click on “Submit” to create your account.
- Fill Out the Insurance Scheme Form:
- Access the insurance scheme form.
- Provide all the necessary details accurately.
How to Claim
- File a Claim Quickly:
- In case of crop loss, file a claim with the insurance company within 72 hours of the loss.
- Report Crop Loss:
- Use the portal to find the list of concerned persons/companies.
- Click on “Report Crop Loss” or download the app to report the loss.
- Submit Supporting Documents:
- Provide photographs of the damaged crop.
- Include a report from the village-level committee (VLC) or the agriculture department.
Pradhan Mantri Fasal Bima Yojna: Required Documents
- Bank Account Number
- The account number of the farmer’s bank account.
- Aadhaar Card
- The unique identification number issued by the government of India.
- Khasra Number of Land
- The specific identification number for a piece of agricultural land.
- Agreement Photocopy
- A photocopy of any relevant agreements or contracts related to the land or farming activities.
- Ration Card
- The government-issued card for obtaining subsidized food grains and other necessities.
- Voter ID
- The identity card used for voting, issued by the Election Commission of India.
- Driving License
- The official permit to drive vehicles, issued by the Regional Transport Office.
- Passport-Size Photograph of the Farmer
- A small, recent photograph of the farmer, usually 2×2 inches in size.
| Important Links | |
|---|---|
| Official Website | Click Here |
| Guidelines | Click Here |
| Guidelines Hindi | Click Here |
| Join Us On | Telegram | WhatsApp | Facebook |
