The Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced by the Indian government on February 18, 2016. The Ministry of Agriculture and Farmers Welfare Department is in charge of implementing the scheme. NAIS and MNAIS, the previous crop insurance schemes, have been replaced with this one. Farmers can be covered under the scheme if they suffer financial losses as a result of unforeseeable incidents. Crop loss owing to local hazards, post-harvest financial loss, loss due to natural catastrophes, unseasonal rains, pests, crop diseases, and more are all covered by the policy. Read below to check the detailed information related to the Pradhan Mantri Awas Yojana Pradhan Mantri Fasal Bima Yojana 2023 like Highlights, Objectives, Features, and Benefits, Eligibility Criteria, Application Procedures, Application Status, and much more.
Pradhan Mantri Fasal Bima Yojana 2022
PMFBY is a crop insurance plan that allows farmers to claim their insurance in the event of natural disasters, pest infestations, or crop illnesses. Because the scheme’s fundamental motto is “One Nation, One Scheme,” all alternative crop insurance systems have been rejected. The system provides the country’s farmers with the most reasonable and standardized insurance premiums. If the crop is harmed for any other cause, the insurance sum will be forfeited. A budget of Rs. 50,000 has been set aside for the Pradhanmantri Fasal Bima Yojana. Farmers will be required to pay the insurance firm 2% of their Kharif crop and 1.5 percent of their Ravi crop under this arrangement. Farmers, insurance firms, government agencies, etc can access data and information on its official website in 12 different languages i.e., English, Hindi, Kannada, Tamil, Malayalam, Bangla, Gujarati, Punjabi, Assamese, Marathi, Odia, and Telugu.
Also Check: Kisan Credit Card Yojana
Highlights of Pradhan Mantri Fasal Bima Yojana
| Scheme Name | Pradhan Mantri Fasal Bima Yojana |
| Department | Ministry of Agriculture and Farmers Welfare |
| Introduced by | PM Shri Narendra Modi |
| Introduced On | 18th Feb 2016 |
| beneficiary | Farmers of India |
| Location | All over India |
| Objective | To empower the country’s farmers |
| Last Date of Online Application | Kharif- 31st July Rabi- 31st December |
| Insurance amount | up to ₹ 200000 |
| Scheme Type | Central Government Scheme |
| Official website | PM Fasal Bima |
Objectives of Pradhan Mantri Fasal Bima Yojana
The Pradhan Mantri Fasal Bima Yojana is an attempt to increase crop sustainability. It provides assistance to farmers that have experienced catastrophic crop loss as a result of natural disasters such as heavy rainfall, flooding, droughts, floods, cyclones, natural fires, and so on. Crop insurance, according to the plan, is supposed to help such people stabilize and recoup from their losses. The following are some of the primary goals of the Pradhan Mantri Fasal Bima Yojana: –
- The scheme provides financial assistance to farmers who have suffered severe crop losses due to natural catastrophes, pest,s and disease attacks.
- Farmers are encourae to continue farming through PMFBY.
- The farmers should encourage to use new and modern farming practices
- Farmers need a steady income to support their families and their farming operations.
- PMFBY gives farmers the opportunity to secure financial stability.
- The goal of this Crop Insurance Scheme is to keep credit flowing in the sector.
- To protect farmers against production risks
- Provide low-cost crop insurance.
- The plan is exempt from the Goods and Services Tax
- Food security will ensure
Also Check: PM Kisan Samman Nidhi Yojana List
Premium Amount for Rabi Season 2021 22
| Name of crop | Amount of premium per hectare |
| Wheat | Rs 11000.90 |
| Mustard | Rs 681.09 |
| Barley | Rs 661.62 |
| Sunflower | Rs 661.62 |
| Chana | Rs 505.95 |
Assured Sum per Hectare
| Name of the crop | Sum Assured per hectare |
| Wheat | Rs 67460 |
| Mustard | Rs 45405 |
| Barley | Rs 44108 |
| Sunflower | Rs 44108 |
| Chana | Rs 33730 |
Features and Benefits of Pradhan Mantri Fasal Bima Yojana
Some of the key features and benefits of the Pradhan Mantri Fasal Bima Yojana are as follows:
- All farmers pay the same premium cost for PMFBY
- the farmer’s part of the premium is quite little. The remaining is cover by the government. Farmers will be able to obtain comprehensive coverage at a lower premium price as a result of this.
- Farmers’ premium contributions drastically reduce by 2% for Kharif crops, 1.5 percent for Rabi crops, and 5% for Annual and Commercial crops.
- Technology utilizes to capture and upload details on product loss/damage, decreasing claim settlement delays.
- A single insurance company is in charge of enrolling beneficiaries, raising awareness of the plan, and processing claims.
- Farmers can get on-account claim payments if their crop suffers local losses under the scheme.
- Assessment of yield loss on a plot-by-plot basis in the event of a cyclone, cyclonic rains, or unseasonal rainfall across the country, resulting in damage to harvested crop laying in the field in ‘cut and spread’ condition for up to two weeks (14 days) after harvesting for the express purpose of drying.
- Crop loss evaluates on an individual plot basis in the event of harsh climatic conditions and unseasonal precipitation.
- This strategy will stimulate the usage of technology to a large extent. To eliminate claim payment delays to farmers, smartphones will use to gather and submit crop-cutting data. This approach will also employ remote sensing to reduce the number of crop-cutting experiments.
Pradhan Mantri Fasal Bima Yojana 2023
| Number of Farmers | 93,28,259 |
| Total Applications | 1,90,65,427 |
| Loanee Applications | 1,16,28,309 |
| Non-Loanee Applications | 74,37,118 |
| Insured Sum | 768.24 Cr |
| Total Premium | 9894.97 Cr |
Eligibility Criteria
Applicants who want to apply for the scheme must fulfill the eligibility criteria put forward by the Ministry of Agriculture and Farmers Welfare Department. The eligibility criteria for Pradhan Mantri Fasal Bima Yojana 2023 are as follows:
- Enrollment is open to farmers, sharecroppers, and tenant farmers for producing recognized crops in the specified areas.
- Farmers that are eligible must have an insurable stake in the recognized produce.
- Non-loanee farmers must present the state’s land records, such as the Record of Right (ROR), land possession certificate (LPC), and so on. They can also offer support contracts, details of agreements, or other documentation issued by the state government.
Pradhan Mantri Fasal Bima Yojana Coverage
The coverage of the Pradhan Mantri Fasal Bima Yojana is shown in the table below.
| Sum Insured of PMFBY | The scheme’s insurance coverage is equal to the sum insured set by the Indian government. |
| Compulsory Coverage | Farmers who have been approved by financial institutions for Seasonal Agricultural Operations (SAO) loans for notified crops. Insurance applications are accepted until the State Level Coordination Committee on Crop Insurance sets a cut-off date (SLCCCI). Any changes to the crop plan should be communicated to the bank at least two weeks prior to the deadline. |
| Voluntary Coverage | For loanee farmers, the program is optional. |
| Risk Covered | Aside from crop losses, the system also includes the Risk of prevented sowing, planting, and germination: The insured area is prevented from sowing, planting, and germination due to unfavorable meteorological conditions or unseasonal rainfall. Post-harvest loss: If there is any loss to the product after it has been harvested for up to two weeks, the policy will cover it.Loss of standing crops (from sowing to harvesting): The plan covers unforeseeable events that result in yield loss. Loss/damage to the product as a result of localized hazards such as hailstorms, landslides, cloud bursts, and animal assaults is also covered. |
Required Documents
While filling up the application form for this scheme, some important documents will be needed by the applicants, make sure to keep them handy. The documents required for Pradhan Mantri Fasal Bima Yojana are as follows:
- Farmer’s ID Proof
- Address Proof
- Proof of crop sown in the field
- Supporting Land Records
- Canceled cheque
Steps for Pradhan Mantri Fasal Bima Yojana Farmer Registration
Applicants need to follow the below-given steps to apply for the Pradhan Mantri Fasal Bima Yojana
- First of all, go to the PM Fasal Bima Website of the Pradhan Mantri Fasal Bima Yojana
- The homepage of the website will open on the screen.
- Click on the Farmer Corner tab
- A dialog box will open on the screen with two options i.e.,
- Login for Farmer
- Guest Farmer
- Click on the Guest Farmer option.
- Registration form will open on the screen.
- Now, fill in the form with all the required details like:
- Farmer Details: Full Name, Relationship, Relative Name, Father/Husband Name, Mobile No., Age, Caste Category, Gender, Farmer Type, etc.
- Residential Details: State, District, Sub-District, Residential Village/ Town, Address, Pin Code.
- Farmer ID: ID Type, ID Number
- Account Details: IFSC code, State, District, Bank Name, Bank Branch Name, Savings Bank A/C No.
- Now, enter the captcha code and click on the Create User button
- After successful submission of the registration form, the farmers can log in to their accounts to update their profiles through their registered mobile number.
Steps to check the Pradhan Mantri Fasal Bima Yojana Application Status
To check the Pradhan Mantri Fasal Bima Yojana Application Status, applicants need to follow the below-given steps:
- First of all, go to the Official Website of the Pradhan Mantri Fasal Bima Yojana
- The homepage of the website will open on the screen.
- Click on the Application-Status tab.
- A new page will open on the screen.
- Now, enter your Receipt number.
- After that enter the captcha code
- Now, click on the Check Status button
- Once you will click on the Check Status button, the Pradhan Mantri Fasal Bima Yojana application status will open on the screen.
PM Fasal Bima Yojana Claim Process
Pradhan Mantri Fasal Bima Yojana Claim Process is based on the risks faced. The following table shows the Claim Process
| In case of loss/damage to the yield | Crop Cutting Experiments (CCEs) are conducted by the competent state government in each insured region. Within the stated time frame, the yield data is shared with the insurer. The claim compensation is determined using the information provided. The Threshold Yield (TY) is the rate at which compensation is provided up to a certain point. The TY of notified crops is calculated by multiplying the historical average yield for the best five of the last seven years by the indemnity amount. (TY – Actual Yield) / TY X Sum Insured = Produce/Yield Loss |
| In case of prevented sowing, planting, and germination risk | The affected insured area suffering from prevented sowing or planting risk was notified by the competent state government. Under this risk, claims are paid at a rate of 25% of the sum insured, beyond which the insurance coverage is discontinued. As proxy indicators, weather data, satellite photos, crop status, and sowing area are used. |
| In case of loss to standing crops (from sowing to harvesting) | The claim is made in this case for any loss or damage to standing crops as a result of unfavorable weather conditions, dry periods, drought damage, and so on. The maximum claim compensation that can be paid is up to 25%. Also, if the predicted yield during the season is less than 50% of the normal yield, the claim can be increased. |
| In case of post-harvest loss | The claim should be reported within 72 hours, either to the insurer or to the government. |
| In case of loss due to localized calamities | The claim should be reported within 72 hours, either to the insurer or to the government. Weather reports and other related facts are utilized as proxy indicators. |