After discontinuing the National Agriculture Insurance Scheme (NAIS), Weather-based Crop Insurance Scheme (WIS), and Modified National Agricultural Insurance Scheme (MNAIS), the Indian government introduced the Pradhan Mantri Fasal Bima Yojana (PMFBY) in 2016.
The Pradhan Mantri Fasal Bima Yojana has received funding from the Union Government of Rs. 16,000 crore for the 2021–2022 fiscal year. This exceeds the allocation for the fiscal year 2020–21 by almost Rs. 305 crore. The PMFBY seeks to protect farmers’ crops and make sure they receive the fullest possible profit from crop insurance.
| Scheme name | Pradhan Mnatri Fasal Bima Yojana |
| Started in | 2016 |
| Started by | Indian Govenrment |
| Objective | To reduce Farmer’s Burden |
| Official Website | https://pmfby.gov.in/ |
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Objective of the scheme
One Nation, One Crop, One Premium is the focus of the PMFBY’s efforts. If any of the registered crops fail due to pests, illnesses, or natural disasters, offer insurance coverage and financial support to the farmers.
- to maintain farmers’ economic stability so they can continue farming.
- to inspire agriculturalists to embrace cutting-edge, contemporary techniques.
- to guarantee the agricultural sector’s loan flow.
Benefits of the Scheme
Here are some of this scheme’s advantages:
- All-inclusive insurance protection for Rabi and Kharif crops.
- Increase the coverage that is provided in certain situations.
- For farmers, loanee or not, optional.
- Stability in farmers’ incomes to enable them to carry on with farming.
Eligibility of the Scheme
To qualify for coverage under the Pradhan Mantri Fasal Bima Yojana (PMFBY), farmers need to fulfill several requirements. For your reference, below is a list.
- On the insured land, the farmer must be a cultivator or a sharecropper.
- A current land tenancy agreement or a legitimate and validated land ownership certificate is required for farmers.
- The farmer has to have submitted an application for insurance coverage within the allotted time, which is typically two weeks after the sowing season begins.
- They cannot have gotten any other recompense for the same crop loss.
- At the time of enrollment, the farmer must present evidence of identity and have a current bank account.
- All farmers with an insurable stake in the crop who are growing notified crops in notified areas during the season are eligible.
How to Apply for the Scheme
- The official portal must be accessed by farmer applicants.
- Press the “Farmer Corner” button.
- In case the candidates lack an account on the portal, they should select Guest Farmer. Click “Submit” after accurately entering all the information. We’ll create an account.
- Please complete the insurance plan form and supply the necessary information.
Documents Required to Apply for the Scheme
- Number for bank account.
- Adhaar card.
- Land number in Khasra.
- Photocopy of the agreement.
- Card for rationing.
- Voter ID.
- driver’s license.
- A picture of the farmer as big as their passport.
Necessary Links:
FAQ:
Q: Can I use this system to receive crop insurance even though I don’t own any land?
Ans: Yes, you are qualified to receive crop insurance under this plan if you are a tenant on someone else’s land.