PMFBY aims at supporting sustainable production in agriculture sector by way of providing financial support to farmers suffering crop loss/damage.
Securing Your Harvest with PMFBY
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a landmark crop insurance scheme in India. It was launched to provide comprehensive insurance cover against failure of the crop, thus helping in stabilizing the income of the farmers. The scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural crops.
Key Benefits: - Comprehensive Coverage: Covers yields loss, prevented sowing, and post-harvest losses. - Low Premium Rates: Farmers pay very low premiums (2% for Kharif, 1.5% for Rabi, and 5% for Commercial/Horticultural crops). - Technology Driven: Use of drones and smartphones for quick estimation of crop loss and speedy claim settlement.
Risks Covered: 1. Yield losses (standing crops, on area approach basis). 2. Post-harvest losses (for crops kept in "cut & spread" condition in the field). 3. Localized calamities (Hailstorm, Landslide, Inundation, Cloud burst, and Natural fire).
How to Enroll: Farmers can enroll through the official PMFBY portal, through banks, or through common service centers (CSCs). Loanee farmers are covered automatically, while non-loanee farmers can opt-in.
