Pradhan Mantri Fasal Bima Yojana 2022-2023: Scheme details, insurance premium and benefits

PM Crop Insurance Scheme (Pradhan Mantri Fasal Bima Yojana) 2022-2023

Pradhan Mantri Fasal Bima Yojana 2022: Scheme details, insurance premium and benefits::  India is a country of farmers with maximum proportion of rural population dependent on agriculture. Hon’ble Prime Minister unveiled a new scheme Pradhan Mantri Fasal Bima Yojana (PMFBY) on 13 January 2016 under which crops are protected against risks like drought, storm, storm, unseasonal rain, flood etc. The main objective of this scheme is to provide insurance cover to the farmers at an affordable rate in case of loss due to natural calamities. PM Fasal Bima Yojana (Pradhan Mantri Fasal Bima Yojana) has been started by the central government from Kharif season 2016. Under this scheme, the damage caused to the crops due to natural calamities is covered. Damage caused by rain and fire to the crop kept in the field after harvesting is also covered under this scheme. Now the damage caused to crops by wild animals has also been included in the insurance cover. This scheme has been adopted by most of the states. 

Details of PM Fasal Bima Yojana

The Prime Minister’s cabinet on 13 January 2016 approved the Pradhan Mantri Fasal Bima Yojana. The Pradhan Mantri Fasal Bima Yojana will reduce the loss of farmers’ crops due to natural calamities to a limit by paying premium to farmers and Rs 8,800 crore will be spent for this scheme, along with the Pradhan Mantri Fasal Bima Yojana Will pay 2% premium for Kharif crops and 1.5% premium for Rabi crops, fixed by insurance companies. PM Bima Fasal Yojana not only provides protection for Kharif and Rabi crops but also for commercial and horticultural crops, but also pays 5% premium (installment) to farmers for annual commercial and horticultural crops. 

Main points of insurance installment in PM Fasal Bima Yojana

• Technology will be used compulsorily under Pradhan Mantri Fasal Yojana, so that the farmer can immediately assess the loss of his crop through mobile only.

• Under Pradhan Mantri Fasal Yojana, a target has been set to cover 50% of the farmers, with the government spending 8,800 crores in the coming 3 years. 2% for crops and 1.5% for all rabi crops.

• Insurance premium is 5% in case of annual commercial and horticultural crops

• The premium rates to be paid by the farmers are very low and the rest of the premium will be paid by the government to provide full insurance amount to the farmers against crop loss due to natural calamities.

• The remaining premium will be given by the government to the insurance companies, it will be divided equally between the state and the central government.

UP government got a gift of 3000 crores in PM Fasal Bima Yojana

Along with doubling the income of Annadata farmers, the Uttar Pradesh government is not lagging behind in compensating for the damage caused to the crops. Under the Prime Minister’s Crop Insurance Scheme (Pradhan Mantri Fasal Bima Yojana), the government is not allowing the farmers to suffer any loss in any way by paying for the crops damaged in natural calamities, so far Yogi Adityanath government has covered more than 27.59 lakh farmers in the state. 3074.60 crore was paid as compensation. The objective of this ambitious scheme of the government is to protect the crops of farmers from bad weather and natural calamities and reduce the premium burden. In this, farmers will have to pay a premium of 2% for Kharif crops and 1.5% for Rabi crops and 5% premium for commercial and horticultural crops. The implementation of this scheme has brought great relief to the farmers. Especially those farmers who used to invest in farming by taking loan or borrowed money, their income is getting stronger due to the scheme. The Government of Uttar Pradesh has implemented this scheme of the Government of India at the Gram Panchayat level in all the districts of Uttar Pradesh. So far, the government has insured crops by a total of 281.25 lakh insured farmers, in which compensation of Rs 3074.60 crore has been paid to 27.59 lakh farmers and in this, crop compensation of Rs 654.85 crore has been paid to 7.02 lakh farmers in Kharif season 2021-2022. are also included. In Rabi 2021-2022, 19.90 lakh farmers have been insured in 14.21 lakh hectare area, for which the process of compensation is going on. Crops were insured by 25 lakh insured farmers, in which compensation of Rs 3074.60 crore has been paid to 27.59 lakh farmers and it also includes payment of crop compensation of Rs 654.85 crore to 7.02 lakh farmers in Kharif season 2021-2022. In Rabi 2021-2022, 19.90 lakh farmers have been insured in 14.21 lakh hectare area, for which the process of compensation is going on. Crops were insured by 25 lakh insured farmers, in which compensation of Rs 3074.60 crore has been paid to 27.59 lakh farmers and it also includes payment of crop compensation of Rs 654.85 crore to 7.02 lakh farmers in Kharif season 2021-2022. In Rabi 2021-2022, 19.90 lakh farmers have been insured in 14.21 lakh hectare area, for which the process of compensation is going on. 

Benefits of PM Crop Insurance Scheme

 

                                            

 

• The Union Cabinet has decided to limit the share of Central Government on the rates of insurance premium to 30% for non-irrigated areas/crops and 25% for irrigated areas/crops under this scheme. Earlier, there was no upper limit on the central subsidy.

• Under this scheme, registration of paddy, cotton, maize, millet and moong will be done in Kharif crops. This information has been provided by the Agriculture and Farmers Welfare Department. Under this scheme, the amount of premium for money has been fixed at Rs 741, cotton premium Rs 1798, maize premium Rs 370.51, bajra premium Rs 348.70 and moong premium Rs 326 per acre.

• For Rabi crops, wheat premium has been fixed at ₹ 425, mustard premium ₹ 286.6, gram premium ₹ 212.50 and sunflower premium ₹ 277.88 per acre. 

According to the Pradhan Mantri Fasal Bima Yojana, now the farmers can get this scheme from the post office also, that is, now the farmers will be able to get the benefits of this scheme from the post office also. The purpose behind this step of the government was that the reach of the postal department in rural areas is good and the farmers will again be very comfortable. 

 

Pradhan Mantri Fasal Bima Yojana Eligibility

Under the PM Crop Insurance Scheme, all the farmers of the country can be eligible under the scheme. Under this scheme, farmers can get insurance for the agriculture done on their own land, as well as insurance for the agriculture done on the land taken on loan. 

Those farmers of the country will be considered eligible under this scheme, who were not taking advantage of any insurance scheme earlier. 

• farmer id card

• Aadhar card

• Ration card

• bank account

• Address proof of the farmer (such as driving license, passport, voter ID card)

• If farming has been done by taking the farm on rent, then photo copy of the agreement with the owner of the farm

• Farm Account Number / Khasra Number Papers

• photo of the applicant

• Date of the day the farmer started sowing the crop 

 

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