Agriculture is a vital source of income for more than 58% of the population of India. But it has many risks. With a lot of hard work, farmers sow crops and harvest them, but sometimes natural calamities destroy their whole agricultural land. Due to this, they face major losses. Considering this factor, the government introduced a scheme for farmers to help with financial losses. The scheme is Pradhan Mantri Fasal Bima Yojana introduced in 2016. Yojana’s main aim is to provide affordable financial help to farmers in times of loss. This scheme improves the security of farmers and their families against losses.
Objectives of Pradhan Mantri Fasal Bima Yojana
The prime objective of this yojana is to ensure the financial stability of the farmers. When this scheme was introduced earlier it applied to loanee farmers. The government improvised the scheme in 2020 and non-loanee farmers can enjoy the benefits. This scheme has stabilised the financial status of farmers, as the scheme motivates them to continue farming even after losses. The agricultural sector’s growth improved under the PMFB Yojana. Proper funds are credited to the agricultural sector which enhanced its competitiveness and improved the economy.
Benefits of Pradhan Mantri Fasal Bima Yojana
The scheme is only valid for farmers in India. There are several benefits of the scheme for the farmers facing financial losses-
- To provide financial help and insurance to the farmers who have faced financial crises due to natural calamities.
- Scheme benefits motivate the farmers to start harvesting crops even after losses.
- Encourages farmers to adopt modern agricultural practices.
- The amount is directly transferred to the farmer’s account.
- The farmers pay a nominal premium for the Yojana. 2% to be paid for all Kharif crops and 1.5% to be paid for Rabi crops.
Documents required for Pradhan Mantri Fasal Bima Yojana
There are a few documents required to prove that you meet the criteria the Yojana fixed by the government-
- Aadhar card for identification
- Passport-size photo of the farmer
- Ration Card
- Bank Account details
- Farmer’s address proof such as driving licence, voter’s ID
- Details of the rented property in case of cultivation are on rented land.
- Date of sowing of crops
Important dates of Pradhan Mantri Safal Bima Yojana
There are some fixed dates for the scheme according to the harvest season. The due date for application for the Yojana is checked on the website (pmfby.gov.in). It is also enquired from the agricultural office or insurance company-
- The last date for the Kharif crop is 31st of July
- The last date of Rabi Crop is 31st December
Eligibility criteria for Pradhan Mantri Fasal Bima Yojana
There are criteria for every Yojana, and an applicant has to meet them before applying. PMKBY also has some, which are listed below-
- The yojana applies to those farmers whose crops are damaged by the natural calamity, no other reason for crop damage falls under this category.
- Farmers who own land and the farmers who are farming on rental property. Both are eligible for PMKBY.
- Indian farmers get the benefits of this Yojana.
How to apply for Pradhan Mantri Fasal Bima Yojana
If your crops are damaged by natural calamity, you can gain access to the yojana by the following methods-
- Farmers have to inform the crop damage to the agriculture officer.
- Make sure to inform the officer within 72 hours of damage.
- Carry along real pictures and videos when you contact the concerned officer.
- There should be complete information on the damage including the type of crop, date and time.
- You can also apply through the application without visiting the office physically.
The toll-free number is also introduced to ease the application process. The Toll-free number is 1800801551.
Pradhan Mantri Fasal Bima Yojana Implementation
Proper surveillance of the officials is crucial for the implementation of the yojana. The government hires surveyors and officers in different districts. Such actions ensure the correct execution of the scheme. The government contacts insurance companies to implement the scheme in the district. The banks are also involved in the proper surveillance of the yojana. They also appoint officers at the district level to ensure the right implementation of the scheme in a region. The Grievance Redressal Committee examines the losses of farmers due to natural calamity.
Along with the role of officials and committees, the farmer’s reflex also plays a role. The farmers should register the damage on the Pradhan Mantri Fasal Bima Yojana portal within the due date of a particular crop type.
Risks Coverage
Pradhan Mantri Fasal Bima Yojana considers various crop damages. Natural calamities like heavy rain, winds, cyclones, hurricanes and thunderstorms fall under this scheme. The farmers face losses due to the different weather conditions like insufficient rainfall, excess or low temperatures, fogs in winter, and humidity. Pest attacks on the crops also fall under this scheme. The scheme also covers both pre-sowing and post-harvest losses.
Banks and Insurance Companies supporting PMFB Yojana
Several banks and insurance companies support this Yojana under the guidance of the Ministry of Agriculture and Farmers Welfare. There is a directory of the firms on the PMFB Yojana website. A few are listed below-
- ICICI Lombard General Insurance Pt. LD.
- United India Insurance
- TATA AIG General Insurance Co. LD.
- HDFC Ergo
- SBI General Insurance
- Reliance General Insurance
- Bajaj Allianz
- Axis Bank Private Limited.
Conclusion
The government introduces various schemes to improve the welfare of the people. The Pradhan Mantri Fasal Bima Yojana is introduced exclusively for farmers of the country. They face losses due to natural calamities and other factors like pest attacks and weather changes. To compensate for these losses funds are provided to the farmers which gives them financial stability.
The main motive of this Yojana is to improve the agricultural sector which enhances the economy of the state and country.
