Pradhan Mantri Fasal Bima Yojana is scheme launched by Pm Modi on 13th January 2016 . This scheme basically aims to provide insurance of crops for farmers.Main aim of this scheme is in easing the burden of loan on farmers who takes loan for their cultivatives. Pradhan Mantri Fasal Bima Yojana was passed by Government with a budget of 17,600 crore rupees.
Pradhan Mantri Fasal Bima Yojana (PMFBY- Complete Details)
As India is a country of farmers. There are a lot of farmers who work day and night just to provide food to the country people. By seeing a No of suicides because of loan government has decided to pleaded the suicide rate .
The implementation of Pradhan Mantri fasal Bima Yojana will not only help farmers to easing in their loan it will also provide cover to farmers if their crops get damaged under natural climatic disasters.
Official Website of PMFBY to register and get more information is – http://agri-insurance.gov.in/Login.aspx#skip
Details to Notice About Pradhan Mantri Fasal Bima Yojana
- To download the User Manual Click Here – UserManual
Eligibility For Fasal Bima Yojana
PMFBY Eligibility Criteria is very simple . Tenant,Sharecropper and SAO Loan Farmers can apply for this scheme. Beneficiaries of this scheme must be Indian farmers which are harvesting Rabi, Kharif and other products from their lands.
Also to get the benefit under this scheme All farmers must only harvest those crops which are mentioned under PMFBY Corp Insurance Plan. So that if Crops get damaged under any natural weather climatic conditions only than Insurance Claim can be made under Pradhan Mantri Fasal Bima Yojana.
Objectives of Pradhan Mantri Fasal Bima Yojana
- Provide insurance coverage/ financial support to farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.
- Encourage farmers to adopt innovative and modern agricultural practices.
- Stabilize the income of farmers to ensure their continuance in farming.
Premium Under Pradhan Mantri Fasal Bima Yojana
– – -Note that premium under the Pradhan Mantri Fasal Bima Yojana is way less than the previous government or private crop insurance schemes.
The premium amount for all the crops is as follows –
Kharif crops ——2 percent
Rabi crops ———-1.5 percent
Karif and Rabi covers most food crops and oil crops cultivated in India.
The premium for commercial or horticultural crops (including cotton) is pegged at 5 percent for one year.