PM Fasal Bima Yojana: If you are a farmer availing the benefits of government schemes, this news could be particularly significant for you. The government operates a special scheme to help farmers mitigate risks associated with weather conditions and natural disasters in agriculture. Crops often suffer damage from drought, hailstorms, cyclones, pest infestations, diseases, and floods, rendering a portion of the harvest useless.
The PM Fasal Bima Yojana (PMFBY) was launched to provide financial assistance to farmers during such times. Under this scheme, eligible farmers’ crops are insured, and insurance claims are settled according to the rules if the crops suffer damage from risks covered by the scheme.
What is the PM Fasal Bima Yojana?
PMFBY is the Central Government’s crop insurance scheme. Its primary objective is to provide financial aid to farmers in the event of crop failure and to minimise the risks associated with agricultural losses. Farmers are not required to pay the entire premium; the farmer’s share is capped, and the government subsidises the remaining applicable premium.
How much premium does the farmer have to pay?
For Kharif and oilseed crops, the premium is capped at 2% of the insured amount. For Rabi crops, the maximum premium is 1.5%, while for horticultural crops, it is up to 5%. Actual premium rates and insured amounts may vary by state, crop type, and official notifications; therefore, it is advisable to check the scheme’s official website for specific details for your crop.
For what kind of losses is insurance provided?
Under this scheme, insurance covers crop damage caused by notified risks. This includes losses resulting from natural disasters and other unavoidable risks. Coverage extends to damage caused by drought, floods, hailstorms, cyclones, and other natural calamities, as well as losses due to pest infestations, failure to sow on time, and damage to crops drying in the field after harvesting.
Which farmers are eligible for this scheme?
Farmers cultivating notified crops in notified areas are eligible for the PMFBY. While it is beneficial for non-loanee farmers to join the scheme, different rules regarding notified crops and loan status may apply to loanee farmers. Therefore, farmers should check the notifications issued for their specific state, district, and cropping season.
What documents are required for crop insurance?
Farmers need to have certain essential documents ready when applying. These include an Aadhaar card, mobile number, bank passbook details, land records (such as Khasra/Khatauni), information regarding the crop and sowing, details of any existing loans, and other relevant information. The online PMFBY farmer registration process requires details such as name, age, state, district, farmer particulars, and bank account information.
How to apply for PMFBY?
Farmers can apply for crop insurance online by visiting the official PM Fasal Bima Yojana portal. Navigate to the ‘Farmer Corner’ and select the option to apply for crop insurance. Enter your mobile number and other required information, including details about the state, district, and crop. Next, provide your bank account details and any other necessary information. Upload all the requested documents. After you submit the application, you can track its status.
How to calculate the premium amount?
The premium amount is not uniform for all farmers; it depends on factors such as the crop, state, district, area, and the insured amount. The PMFBY website has an insurance premium calculator where you can determine the premium by entering details such as the year, season, state, district, crop, and area.
What to do in case of crop damage?
If the insured crop is damaged, the farmer must report the loss promptly through the prescribed procedure; delays can affect the claim process. The official portal provides facilities to report losses and file complaints. The official portal also lists the helpline number 14447.
Will the claim amount be credited directly to the bank account?
Under this scheme, the eligible claim amount can be transferred electronically to the bank account once the insurance processing is complete. The claim calculation and payment plan are determined based on the loss details and relevant notifications. Therefore, farmers must provide accurate bank account and IFSC details when applying.
Conclusion
The PM Fasal Bima Yojana provides financial security to farmers against crop loss caused by natural calamities and other risks. Farmers must pay a relatively low premium for their crops: 2% for Kharif crops, 1.5% for Rabi crops, and 5% for horticultural crops. It is advisable to gather all necessary information before insuring your crops.