PMFBY Eligibility: The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched on February 18, 2016, to provide financial security to farmers in the event of crop failure. This scheme provides comprehensive protection against crop losses due to natural disasters, pests, diseases, and weather-related problems. Crores of farmers across India are covered under this scheme, and more than 50 crops receive insurance coverage.
The scheme’s primary goal is to make farming risk-free, ensuring farmers’ financial security in situations such as floods, droughts, hailstorms, or pest infestations. The scheme encourages farmers to adopt better technologies, increase crop production, and foster sustainability in farming. It also enhances farmers’ ability to access credit and plays a crucial role in the sustainable growth of the agricultural sector.
How to Help
The most significant feature of PMFBY is its extremely affordable premium. A premium of 2 percent is required for Kharif crops, 1.5 percent for Rabi crops, and 5 percent for commercial and horticultural crops. The government bears the remaining premium. Farmers in the North-Eastern states, Jammu and Kashmir, and Himachal Pradesh receive the entire premium from the government.
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Insurance Coverage for Crop Losses
The scheme covers losses caused by natural disasters as well as post-harvest losses. Crop losses due to hailstorms, floods, landslides, cyclones, pest infestations, and diseases are also covered under insurance. Farmers are compensated up to 25 percent if sowing is not completed due to adverse weather conditions. Losses caused by risks such as cyclones within 14 days of harvest are also covered.
Use of Technology in the Process
Modern tools such as drone surveys, satellite data, and mobile apps are used in the implementation of the scheme. This ensures accurate assessment of crop losses and ensures fast and transparent claim settlement. The government aims to disburse funds to farmers within two months of the claim being settled.
Who Can Apply?
Only those farmers who grow notified crops in notified areas are eligible for the scheme. This includes sharecroppers, tenants, and landowners. Farmers must have documentary proof of cultivation, land ownership documents, or a valid rental agreement. Applications must be made within two weeks of the start of the sowing season, and they must not have received compensation from any other source for the same loss.
How to Apply
Applying for the scheme is possible both online and offline. To apply online, registration is done by visiting the official PMFBY website, pmfby.gov.in. For offline applications, farmers visit the nearest bank or insurance office to fill out the form, submit documents, and pay the prescribed premium. They are given a reference number through which they can track their application status online.