Prime Minister Crop Insurance Scheme
Agriculture is the backbone of India’s economy, and millions of farmers depend on it for their livelihood. However, unpredictable weather conditions, natural disasters, and pest infestations often result in significant crop losses. To provide financial security to farmers, the Government of India launched the Pradhan Mantri Fasal Bima Yojana (PMFBY) in 2016. This crop insurance scheme ensures farmers receive financial assistance in case of crop failure due to unforeseen circumstances.
PMFBY is a flagship scheme aimed at providing affordable crop insurance to Indian farmers. With low premiums and comprehensive coverage, this scheme has significantly helped farmers mitigate agricultural risks. Whether it is excessive rainfall, drought, pest infestation, or post-harvest losses, PMFBY provides a safety net to millions of farmers across India.
Key Highlights of PMFBY
| Feature | Details |
| Launch Year | 2016 |
| Premium Rates | 2% for Kharif crops, 1.5% for Rabi crops, 5% for annual commercial and horticultural crops |
| Coverage | All farmers growing notified crops in notified areas |
| Risks Covered | Natural calamities, pests, diseases, post-harvest losses, localized calamities |
| Implementing Agencies | Empaneled insurance companies in collaboration with state governments |
| Official Website | pmfby.gov.in |
Objectives of PMFBY
The main objectives of PMFBY are:
- Financial Security: Protects farmers from crop losses due to unpredictable weather conditions.
- Income Stability: Ensures a steady income for farmers despite crop failures.
- Use of Modern Techniques: Encourages farmers to adopt better risk management strategies and advanced agricultural techniques.
- Credit Flow to Agriculture: Ensures continuous credit availability for farming operations.
- Quick and Transparent Claim Settlement: Uses technology to ensure a smooth and transparent claim process.
Benefits of PMFBY
✅ Affordable Premiums – Farmers pay only a minimal premium, with the government covering the rest.
✅ Wide Coverage – Covers crop losses due to floods, droughts, hailstorms, pests, and post-harvest losses.
✅ Timely Compensation – Claims are settled quickly to ensure farmers receive financial aid without delay.
✅ No Cap on Subsidy – The government bears any extra cost beyond the farmer’s share.
✅ Technology-Driven Assessments – Uses remote sensing, GPS, and smartphones for accurate claim processing.
✅ Financial Stability for Farmers – Ensures that farmers do not fall into debt traps due to crop failure.
✅ Encourages Investment in Agriculture – Farmers can invest in better seeds and techniques without fear of losses.
Eligibility Criteria for PMFBY
- Who Can Apply?
- Farmers (both loanee and non-loanee)
- Tenant farmers and sharecroppers
- Farmers cultivating notified crops in notified areas
- Documents Required:
- Aadhaar Card
- Land ownership proof or lease agreement (for tenant farmers)
- Bank account details
- Crop sowing certificate
How to Apply for PMFBY?
Farmers can apply for PMFBY online or offline using the following methods:
- Through Banks
- Visit a bank providing agricultural loans.
- Fill out the PMFBY application form.
- Submit the required documents.
- Through Common Service Centers (CSCs)
- Visit a nearby CSC.
- Provide your land and crop details.
- Complete the application process online.
- Online Registration
- Visit the official PMFBY website: pmfby.gov.in
- Click on ‘Farmer Registration’ and enter the required details.
- Upload the necessary documents and apply.
Risks Covered Under PMFBY
PMFBY provides coverage against various risks:
- Prevented Sowing: If extreme weather prevents farmers from sowing crops.
- Standing Crop Loss: Covers damages due to drought, flood, pest attacks, and plant diseases.
- Post-Harvest Losses: Compensation for losses caused by cyclones, hailstorms, and unseasonal rains.
- Localized Calamities: Covers specific disasters like landslides, hailstorms, and inundation.
Claim Settlement Process
If a farmer faces crop loss, they should follow these steps:
- Inform the Authorities: Report the damage to the insurance company or local agriculture department within 72 hours.
- Inspection Process: Officials conduct crop-cutting experiments to assess the loss.
- Claim Approval & Compensation: Once verified, the claim amount is transferred directly to the farmer’s bank account.
Implementing Agencies
PMFBY is implemented through empaneled insurance companies, including:
- Agriculture Insurance Company of India
- ICICI Lombard
- HDFC Ergo
- Bajaj Allianz
- Other approved insurers
Role of Technology in PMFBY
Technology plays a crucial role in PMFBY’s implementation:
- Smartphones – Used to upload data from crop-cutting experiments.
- Remote Sensing – Helps in accurate assessment of crop damage.
- GPS Mapping – Ensures correct identification of affected areas.
- Online Portals – Farmers can check their claim status and apply easily.
Latest Updates on PMFBY
- PMFBY is now voluntary for farmers and states.
- New crop insurance mobile app for easy access to services.
- Expanded coverage to include additional risks and natural calamities.
- Faster claim processing using digital technology.
PMMY: How to Get ₹10 Lakh Without Security?
Frequently Asked Questions (FAQs)
- Who is eligible for PMFBY?
Any farmer, including loanee and non-loanee farmers, cultivating notified crops in notified areas can apply.
- What is the premium rate for farmers?
- Kharif crops – 2%
- Rabi crops – 1.5%
- Annual commercial/horticultural crops – 5%
- How to check the status of my insurance claim?
Farmers can check their claim status on the official PMFBY portal or through their registered bank.
- What is the deadline for applying?
The government announces specific deadlines before each cropping season. Farmers must apply before the due date.
- How does PMFBY benefit small farmers?
It provides low-premium, high-coverage insurance, ensuring financial protection for small farmers.
- Can I apply online for PMFBY?
Yes, visit the official website pmfby.gov.in to apply online.
Conclusion
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a lifeline for Indian farmers, providing financial stability against crop losses. With affordable premiums, wide coverage, and a simplified claim process, it empowers farmers to focus on productivity rather than financial risks. If you are a farmer, enrolling in PMFBY is a smart move to secure your agricultural future.