Know about Pradhan Mantri Fasal Bima Yojana


03/10/2018 Facebook Twitter LinkedIn Google+ People & blogs



Agriculture in India is highly susceptible to risks like droughts and floods. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season. For this purpose, the Government of India introduced many agricultural schemes throughout the country. One of the these schemes is Pradhan Mantri Fasal Bima Yojana. The Pradhan Mantri Fasal Bima Yojana (Prime Minister’s Crop Insurance Scheme) was launched by Prime Minister of India Narendra Modi on 18 February 2016. It envisages a uniform premium of only 2 per cent to be paid by farmers for Kharif crops, and 1.5 per cent for Rabi crops. The premium for annual commercial and horticultural crops will be 5 per cent. The details at a glance given below:

Ensuring farm produce – Maximum Insurance with Minimum Premium (DOWNLOAD PDF)

Pradhan Mantri Fasal Bima Yojana

  1. Providing Financial support to farmers suffering crop loss/damage arising out of unforeseen events
  2. Stabilizing the the income of farmers to ensure their continuance in farming
  3. Encouraging farmers to adopt innovative & modern agricultural practices
  4. Ensuring flow of credit to the agriculture sector thereby providing food security, crop diversification, enhancing growth & competitiveness of agriculture sector
  5. Protecting farmers from production risks



Eligibility of Pradhan Mantri Fasal Bima Yojana

 

  • Farmers harvesting Rabi, Kharif or other commercial and horticultural crops
  • The farmer must harvest the crops which are notified under the ministry of agriculture in that land or area
  • The farmer who has a  crop loan account with the government is automatically eligible for this scheme
  • All farmers of all districts of India are eligible




PROCESS OF AVAILING

  1. Farmers can apply on agri-insurance.gov.in or download mobile app here
  2. The Nodal Banks intermediaries will collect list of individual insured farmers with requisite details like name, fathers name, Bank Account number etc. from concerned branch
  3. After receiving the claim amount the financial institutions/ banks will remit/transfer the claim amount to the account of beneficiaries within a week

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