How do farmers benefit from the PM Fasal Bima Yojana? Learn who is eligible

PM Fasal Bima Yojana: More than half of India’s population depends on agriculture. Consequently, the central government is implementing several important schemes to ensure the economic security and stability of farmers. Weather vagaries and natural disasters often cause significant damage to farmers’ crops. To mitigate these losses and provide financial support to farmers, the Pradhan Mantri Fasal Bima Yojana was launched. Under this scheme, farmers are provided compensation in the form of insurance money in case of crop failure, enabling them to resume farming and avoid financial crisis.

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Who benefits from the scheme?

The PM Crop Insurance Scheme benefits only those farmers who cultivate notified crops. These include rice, wheat, pulses, oilseeds, and various horticultural crops. The special feature of this scheme is that its benefits are not limited to landowners. Tenant farmers, sharecroppers, and farmers who rent land can also benefit. The government aims to provide security to everyone involved in agriculture.

When can you apply?

To benefit from the Pradhan Mantri Fasal Bima Yojana (PMFBY), it’s essential to meet the cut-off date. According to reports, you can apply until December 31st. If a farmer applies within the first two weeks of the season, their insurance coverage becomes active for that season. Failure to meet the deadline will result in the insurance coverage not being applicable for the next season.

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What Documents Are Required?

Specify certain documents required to apply for the scheme. These include Aadhaar card, bank account passbook, Khasra number, sowing certificate, and other land-related documents. These documents are necessary to verify the farmer’s identity, land ownership, and crop-related information. With the correct documents, farmers can easily enroll in the scheme and receive compensation in case of crop loss.