Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme, which provides efficient insurance support for farmers of the country. The scheme was launched by the Government of India to provide financial support to farmers in the event of crop loss or damage due to natural disasters, pests or diseases. It aims to ensure the stability of agricultural production and income for farmers. 

Features of Pradhan Mantri Fasal Bima Yojana

  • Pradhan Mantri Fasal Bima Yojana (PMFBY) is the 3rd largest crop insurance scheme in the world.  
  • Crop coverage includes various types of crops, namely food crops such as cereals, pulses, and millets, as well as oilseeds, annual commercial crops, and annual horticultural crops. 
  • Under this scheme, uniform premium is paid for all crops which includes 2% for Kharif Crops, 1.5% for Rabi food and Oilseed crop and 5% for Commercial and Horticultural crops. 
  • Eligibility extends to all farmers, including sharecroppers and tenant farmers, who cultivate specified crops in designated regions and possess insurable interest in the crop. 
  • The scheme is voluntary for all farmers from kharif 2020, including loanee farmers. 
  • Risks covered:  
  • Loss/damage resulting from occurrence of identified localized risks like cloud burst and natural life, cyclone, typhoon etc. 
  • Coverage for post-harvest losses is limited to a maximum duration of two weeks following the harvesting period. 
  • Losses resulting from war and nuclear risks are excluded. 

Benefits of Pradhan Mantri Fasal Bima Yojana

  • The Pradhan Mantri Fasal Bima Yojana scheme is completely voluntary for all the Indian farmers. 
  • The scheme helps farmers mitigate the risk of crop failure or damage due to natural calamities. 
  • Under the PMFBY scheme, indemnity is provided at three different levels: 70%, 80%, and 90%. These levels correspond to the specific risks associated with the crops in the respective areas where the scheme is available. 
  • The premium rates paid by Indian farmers are cost effective and the remaining amount is funded by government. 
  • This scheme provides financial assistance to farmers when they are in need and also encourages them to adopt innovative technologies to improve their farming practices. 

To register for this PMFBY scheme, visit the official website at and click on the “Farmer Corner” button. Choose the “Guest Farmer” option, fill out the registration form with all the necessary details and submit it. After submitting, you will receive the confirmation message. Upon approval of your application, you will receive an insurance policy document. 

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