Pradhan Mantri Fasal Bima Yojana (PMFBY):
The Pradhan Mantri Fasal Bima Yojana -PMFBY is the Prime Minister’s Crop Insurance Scheme. It was approved by Narendra Modi’s cabinet on 13 January 2016 to remove uncertainties regarding the crop of farmers. The PMFBY will reduce the crop losses due to the natural calamities of farmers to a limit by paying the premium of the farmers.
8,800 crore rupees plan to spend on this scheme. Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), farmers need to pay a 2% premium for fixed, Kharif crop and 1.5% premium for Rabi crops by insurance companies.
In this, the insurance installments paid by the farmers against the crop that damaged due to natural calamities have been lowering. It is easily paid by every level farmer. The scheme provides protection not only for Rabi or Kharif crops but also for horticultural and commercial crops, farmers had to pay a 5% premium (installment) for annual commercial and horticultural crops.
Complete information on PMFBY:
The Pradhan Mantri Fasal Bima Yojana became very popular due to its specialties and 27 states and union territories of the country adopted it in one or more seasons.
The scheme implemented in 2016-17, the year in which the monsoon rainfall was very good. But in spite of that year, the average insurance claims under the scheme was quite high at 73%.
In some states like Andhra Pradesh, it was 114%, Karnataka 135%, Kerala 132%, and Tamil Nadu 286%. In 2016-17, a total of Rs 15349.68 crore claims of 139 lakh farmers settle under this insurance scheme.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a scheme under which farmers have to pay a maximum annual premium of two percent for Kharif crop, one and a half percent for Rabi and oilseed crops and five percent for commercial and horticultural crops.
The rest of the premium amount shares equally by the Central and State Governments. The main objective of this scheme is to expedite the settlement of claims. As per the guidelines of the scheme, the claims should be settled within two months of harvesting.
Key facts of Pradhan Mantri Fasal Bima Yojana:
- Pradhan Mantri Crop Insurance Scheme is a gift for Indian farmers on the auspicious occasion of farmers festival Lohri, Makar Sankranti, Pongal, and Bihu.
- The following are the main facts included in this crop insurance scheme for the welfare of farmers.
- The premium (installment) rates paid under Pradhan Mantri Fasal Bima Yojana kept very low for the convenience of farmers so that farmers of all levels can easily avail of crop insurance.
- This scheme will be starting from the coming Kharif crop season.
- All types of crops (Rabi, Kharif, Commercial and Horticultural crops) have been included under this.
- A 2% premium will be paying for crops of Kharif (paddy or rice, maize, sorghum, millet, sugarcane, etc.).
- A 1.5% premium will be paying for the crop of rabi (wheat, barley, gram, lentil, mustard, etc.).
- 5% premium will be paying for annual commercial and horticultural crop insurance.
- There’s no higher limit on government subsidy. If the remaining premium is 90%, it will bare by the government.
- The remaining premium is given by the government to insurance companies. It will distribute equally between the state and central governments.
This scheme replaces the National Agricultural Insurance Scheme (NAIS) and the Modified National Agricultural Insurance Scheme (MNAIS).
- The premium rate much lesser than both the plans as well as covers the entire sum assured compared to both these schemes.
- Earlier, there was a provision to cover the premium rate in the schemes, as a result of which fewer claims of payment were offering to the farmers.
- This capping meant to limit the spending of the government subsidy premium. It is removed now and the farmer gets the full allege against the total claimed without any deficiency.
- Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), the technology compulsorily used, so that the farmer can assess the loss of his crop immediately through mobile.
- This scheme sets the premium for all types of crops and implements the insurance scheme for all types of crops.
- Under the Pradhan Mantri Fasal Yojana, a target set to cover 50% of the farmers with the government spending Rs. 8,800 crores under the coming 3 years.
- Man-made disasters such as Fire, theft, burglary, etc. not covered under this scheme.
- To bring uniformity in premium rates, all districts in India will divide into groups on a long-term basis.
- This new crop insurance scheme bases on the theme ‘One Nation One Plan’. It takes away all the goodnesses of the old schemes and removes the shortcomings and evils of those schemes.
Pradhan Mantri Fasal Bima Yojana Features:
- If the insured farmer unable to sow due to natural calamity, this risk is also included & get the claim amount.
- Disasters such as hail, waterlogging and landslides would be considering local calamities.
- Under the old schemes, if the waterlogged (submerged) in the farmer’s field, the claim amount received by the farmer would depend on whether the unit of insurance.
- Due to this, many times the farmers did not receive the claim amount despite the loss in the fields situated on the banks of the river stream or in the lower site.
- Under the Pradhan Mantri Fasal Yojana, considers survey of only affected farmers provided to them.
- Post Harvest loss also included. Farmers will be able to receive the claim amount if the crop is in danger until 14 days after harvesting and if any disaster arises during that time.
- The technology used in the plan so that the assessment of harvesting/loss done quickly and accurately and farmers get the claim amount quickly.
The number of harvesting experiments will be reducing through remote sensing. The harvesting experiment data will then be upload via smartphone.
- The rate of premium of the Prime Minister Crop Insurance Scheme is very low so that farmers will be able to pay its installments easily.
- This scheme covers all types of crops in the insurance sector so that all farmers will also produce risky crops free of uncertainties at the time of production of any crop.
- This scheme will make farmers psychologically healthy.
- With the implementation of this scheme, the GDP will increase in the future.
- Implementation of this scheme will develop positive energy among the farmers, which will improve the efficiency of the farmers.
- There will be a decrease in the number of farmers who commit suicide due to drought and floods.
- Any farmer can easily estimate their losses through a smartphone.
Documents required for Pradhan Mantri Fasal Bima Yojana (PMFBY):
– Farmer’s land documents.
– The identity certificate of the farmer (Aadhar card, ration card, PAN card, voter card).
– Farmer’s address proof. (Voter card)
– Bank account information such as bank name, branch, account number.
– The date of the day the farmer started sowing the crop.
– Application Form
- Visit the PMFBY official website https://pmfby.gov.in/
- Click on the Farmer corner on the home page
3. Here already registered farmers can click on login for the farmer.
4. Enter farmer registered mobile number and request for an OTP once validated it will log in to farmer screen.
5. If the farmer doesn’t want to register here then he can register as guest Farmer
Insurance Premium Calculator:
Click on the calculator available on the home page.
Enter the season, year, scheme, state, district, crop & area so that it helps in calculating the insurance.
crop insurance premium calculator for PMFBY
Based on the input provided the insurance details will be provided by the insurance company.
Check Farmer Application Status
Click on farmer application status link on the home page
Enter the farmer application receipt number & enter the captcha once the details are validated the status of the application is shown here.
PMFBY User Registration:
Click on the Sign-Up link
Here we see 3 different users like bank, insurance company & state government.
Based on the stakeholder type selected the options in the second tab
Here fill all the user details, bank details, user category & enter personal details.
Official Website: https://pmfby.gov.in/
Email id: email@example.com