Pradhan Mantri Fasal Bima Yojana (PMFBY) – PMFBY was launched on 18 February 2016 by Prime Minister Narendra Modi to help agriculture produce more efficiently. It aids in the stabilization of farmer incomes by lowering the financial loss caused by crop failure. Farmers may invest in better farming operations when they have a steady income, which has a number of advantages.
Empaneled general insurance companies are in charge of implementing the PM Fasal Bima Yojana. The involved state government selects the Implementing Agency (IA) through a bidding process. The scheme was previously mandatory for loanee farmers who took out a Crop Loan/KCC account for notified crops and optional for others, but it has been made voluntary from 2020, when amendments to the scheme were implemented. The Ministry of Health is in charge of implementing the programme.
Pradhan Mantri Fasal Bima Yojana Objective
Objective of Pradhan Mantri Fasal Bima Yojana (PMFBY) is to provide a complete insurance cover against crop failure, thereby assisting farmers in securing their income. All Food & Oilseeds crops, as well as Annual Commercial/Horticultural Crops for which past yield data is available and a sufficient number of Crop Cutting Experiments (CCEs) are being undertaken under the General Crop Estimation Survey, are covered by the Scheme (GCES).
Major Highlights & Updates of Pradhan Mantri Fasal Bima Yojana
- The PM Fasal Bima Yojana was established to offer insurance coverage to farmers in the country in the event of crop loss due to natural disasters.
- Thousands of farmers have benefited from PM Fasal Bima Yojana so far.
- Farmers have deposited a premium of almost Rs 13000 crore in the first three years.
- In exchange, they have received a claim for up to Rs.60000 crores from insurance companies.
- The government is working hard to ensure that all qualified farmers receive the benefits of this scheme. Which the government encourages.
- This programme is in place in 27 states and territories.
- This scheme has an 88.3 percent claim ratio.
- The government reviews this scheme on a regular basis, and all beneficiaries are kept informed.
- In February 2021, this plan was updated with a few changes. So that all farms can benefit from improved facilities.
- According to the new Pradhan Mantri Fasal Bima Yojana, states whose state subsidy payments are delayed for an extended period of time will be unable to participate in the scheme.
- 0.5% of the insurance company’s premiums are utilized for information, education, and communication efforts.
- For the scheme’s successful implementation, a Central Advisory Committee has also been formed.
- The major goal of implementing this strategy is to encourage all farmers to start farming without fear of disaster.
- Small farmers will have to pay a maximum premium of 2% on Kharif, 1.5 percent on Rabi and oilseed crops, and 5% on commercial or horticultural crops under this scheme. Aside from that, if the farmer has to pay a higher premium, the State Government would cover half of the cost and the Federal Government will cover the other half. In the case of the North-Eastern states, the Central Government would cover 90% of the cost and the State Government will cover 10%.
- Subsidies will be granted for the gap between the farmer’s premium and the rate of insurance fee.
- The general insurance sum will be paid by both loanee and non-loanee farmers.
- The government withdrew the provision of premium capping, resulting in a decrease in the amount covered.
- There is a provision in this scheme to claim up to 25% of the sum insured for interrupted sowing.
- If the crop loss in the insurance unit is reported to be greater than 50%, an account payment of up to 25% of the sum insured will be provided for moderate weather unfavorable.
- The remaining claim amount will be determined using harvesting experiment data.
- Crop damage will be assessed using remote sensing technology, smartphones, and drones in order to expedite claim settlement.
- Crop Insurance Portal was also created to help with the scheme’s implementation.
- The claim amount is directly put into the farmer’s account under this scheme.
- The administration is making efforts to raise awareness about the scheme among all hit holders.
Features and Benefits of Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a scheme that attempts to help farmers produce more sustainably. Here are some major features of PM Fasal Bima Yojana:
- Farmers receive financial compensation in the event that their harvest is lost or damaged.
- Farmers get a steady income to support their families and their farming operations.
- Farmers are encouraged to use new and modern farming practices.
- Allow financing to flow into the agriculture sector.
- The premium rate for PMFBY is the same for all farmers.
- Farmers can avail extensive coverage at a lower premium price.
- In case of adverse weather conditions and unseasonal rains, crop loss is assessed on an individual plot basis.
- Farmers are able to protect against production risks.
- Provide low-cost crop insurance.
- The plan is exempt from the Goods and Service Tax.
Pradhan Mantri Fasal Bima Yojana Eligibility
The PM Fasal Bima Yojana offers crop insurance to all farmers on a voluntary basis for products recognised by the country’s state governments. The following are the Pradhan Mantri Fasal Bima Scheme’s eligibility criteria:
- Enrollment is open to farmers (sharecroppers and tenant farmers) growing recognised crops in the notified areas.
- Farmers that are eligible must have an insurable stake in the recognised 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 supporting contracts, details of agreements, or other documentation issued by the state government.
Farmers Covered under PM Fasal Bima Yojana
Farmers who have an insurable interest in notified crops and are growing them in a notified area during the season are eligible.To meet farmer demand, the scheme has been made voluntary for all farmers starting in Kharif 2020. Prior to Kharif 2020, farmers in the following groups were required to enroll in the scheme:
- Loanee Farmers are farmers in the notified area who have a Crop Loan account/KCC account and have had a credit limit sanctioned/renewed for the notified crop during the crop season.
- Other farmers that the government may choose to include at any time.
Voluntary coverage
All farmers not covered above, including Crop KCC/Crop Loan Account customers whose credit limit is not renewed, are eligible for voluntary coverage.
Documents Required for Pradhan Mantri Fasal Bima Yojana
- Farmer’s Id Card
- Aadhar Card
- Ration Card
- Bank Account
- Farmer’s Address Proof (Like Driving License, Passport, Voter Id Card)
- Photocopy Of The Agreement With The Owner Of The Farm If The Field Is Cultivated On Rent
- Farm Account Number / Khasra Number Paper
- Applicant’s Photo
- Date Of The Day The Farmer Started Sowing The Crop
Pradhan Mantri Fasal Bima Yojana Premium
The Actuarial Premium Rate (APR) would be charged under PMFBY by implementing agency (IA). The rate of Insurance Charges payable by the farmer will be as per the following table:
| S. No. | Season | Crops | Maximum Insurance charges payable by farmer (% of Sum Insured) |
| 1 | Kharif | All food grain and Oilseeds crops(all Cereals, Millets, Pulses and Oilseeds crops) | 2.0% of SI or Actuarial rate, whichever is less |
| 2 | Rabi | All food grain and Oilseeds crops(all Cereals, Millets, Pulses and Oilseeds crops) | 1.5% of SI or Actuarial rate, whichever is less |
| 3 | Kharif and Rabi | Annual Commercial / Annual Horticultural crops | 5% of SI or Actuarial rate, whichever is less |
Pradhan Mantri Fasal Bima Yojana Registration Process
The PM Fasal Bima enrolment source differs depending on whether you are a loanee or non-loanee farmer.
- For Loanee Farmers: Farmers who have taken a loan on their crop can apply directly to their bank.
- For Non-Loanee Farmers: They can enroll through Official Portal PMFBY, banks, communal service centers, the National Agriculture Portal, the Agriculture Department Office, or any other authorized scheme mediator.
Pradhan Mantri Fasal Bima Yojana Online Registration Process (Farmer’s Self Registration)
Step 1 – For Pradhan Mantri Fasal Bima Yojana Online Registration you have to visit PMFBY.GOV.IN Portal. Click here to visit pmfby.gov.in
Step 2 – Now click on “Register” in the Menu Bar. Now the Registration page will open.
Step 3 – Here you have to fill in some basic information and Password for Login process.
Step 4 – Then verify your Aadhar Card and Mobile number through OTP.
Step 5 – After that click on the “Create” button.
Step 6 – After successful creation of PMFBY ID, you can login to your account and apply for PM Fasal Bima Yojana.
Step 7 – In the PM Fasal Bima Yojana Application Form you will have to fill in personal information and information related to your land correctly.
Step 8 – Now Submit Your PM Fasal Bima Yojana
PMFBY Sign in Process
- The user needs to click on the ‘Sign in’ option provided at the top right corner.
- The user should then click on the ‘Login with old user ID’ option provided at the bottom to login using the Old user ID.
- The user is expected to select the Stakeholder and Category type to proceed further. The following information fields would be opened based on the Stakeholder and Category type entered.
- The user has to enter the old password to proceed further with the login process and enter the Official Information.
- Verification process for Aadhar and mobile number needs to be completed.
Offline application process for Pradhan Mantri Fasal Bima Yojana
If you want to apply for the Pradhan Mantri Fasal Bima Yojana via offline, follow these instructions:
- First and foremost, you must contact your local insurance Company or Bank.
- Now you must obtain a Pradhan Mantri Fasal Bima Yojana application form from the Agriculture Department or from a Bank/Insurance Company.
- After that, you must fill out the application form with all of the required information, such as your name, phone number, and email address.
- You must now attach all necessary documents to the application form.
- After that, you must submit this application form to the Department of Agriculture.
- Now is the time to pay the premium.
- You will then be given a reference number.
- Keep this reference number safe for future uses.
- You can check the status of your application by dialling this number.
Check Pradhan Mantri Fasal Bima Yojana Application Status
- First of all, you must visit the PMFBY scheme’s official website pmfby.gov.in.
- On the home page of pmfby.gov.in click on Application Status option.
- After that a new page will open in front of you.
- On this screen, you must input your Receipt Number/Reference Number, enter the captcha code, and then click the Search Status button.
- The status of your application will appear in front of you after you click.
How to avail Pradhan Mantri Fasal Bima Yojana Benefits after Crop Loss
A beneficiary of PM Fasal Bima Yojana can get benefits if his/her crop is harmed by a natural calamity such as a storm, rain, earthquake, or other natural disaster. To get Pradhan Mantri Fasal Bima Claim Benefits follow these steps:
- First of all, you must visit your agricultural officer or insurance company.
- Within 72 hours after the date of the loss, you must notify the Agricultural Officer or the Insurance Company.
- Following that, you must submit information regarding the date and time of the loss.
- You must send the crop photo, as well as the date and time of the crop damage.
- This entire process can easily be completed using the Crop Insurance App.
- You can call the Farmer Call Center at 18001801551 for more details.
Coverage of Pradhan Mantri Fasal Bima Yojana
The following table gives a brief overview of the PMFBY scheme coverage:
Sum Insured of PMFB –The scheme’s insurance coverage is equal to the sum insured determined by the Indian government.
Compulsory Coverage:
- Farmers who have been approved by financial institutions for Seasonal Agricultural Operations (SAO) loans for notified crops.
- Any changes to the crop plan should be communicated to the bank at least two weeks prior to the deadline.
- Insurance applications are accepted until the State Level Coordination Committee on Crop Insurance sets a cut-off date (SLCCCI).
Voluntary Coverage – The scheme is optional for loanee farmers.
Risks Covered Under PM Fasal Bima Yojana
Besides the loss caused to crops, the scheme also covers:
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.
Loss of standing crops (from sowing to harvesting): The plan covers unforeseeable events that result in yield loss.
Post-harvest loss: If there is any loss to the produce after it has been harvested for up to two weeks, the policy will cover it.
Loss/damage to produce due to localized disasters: Loss/damage to produce due to localized risks such as hailstorms, landslides, cloud bursts, and animal assaults is also covered.
Any damage or loss to the declared crops caused by the above-mentioned risks must be reported to the insurer within 72 hours of occurrence.