Pradhan Mantri Fasal Bima Yojana | Benefits | Premium Amount
About 60 percent of our country population depends on the agriculture, but it is a higher risk able in our country. Indian farmers depend on nature for agriculture that is the region of farmers suicide. Prime Minister Narendra Modi has launched a scheme for the farmers named as Pradhan Mantri Fasal Bima Yojana on 18 February 2016 for the agriculture risk covering.
Objective of the Scheme
The central government of India has launched the scheme to protect the crop from natural disaster, covering risk in the agriculture sector. The government aims to stabilize the income of farmers by financial supporting the farmers from crop loss/damage. Encourage farmers to use new technology in farming.
Benefits of the scheme
- Under the scheme, the government covers risk on the loss/damage of crop.
- Farmers have to give a minimum premium for crop insurance under the scheme.
- Only 2 percent for Kharif and 1.5 percent for rabi crop and have to pay 5 percent of horticulture crop.
All Rabi and Kharif crop will be covered in the scheme along with horticulture will be covered.
Risk to be Covered
- Yield losses by the Natural Fire and Lightning, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, Inundation and Landslide, Drought, Dry spells, Pests/ Diseases etc.
- Loss or Damage by the natural disaster and others causes is covered under the scheme.
- Cover certain localized problems, Loss/damage resulting from the occurrence of identified localized risks like the hailstorm, the landslide in the notified area would also be covered.
- 2 percent of SI or Actuarial rate whichever is less have to give for Kharif Crop and oilseeds crops (cereals, millets, and oilseeds).
- 1.5 percent of SI or Actuarial rate, whichever is less have to give for rabi crop (all cereals, millets, & oilseeds, pulses)
- 5 percent of SI or Actuarial rate whichever is less have to give for horticulture crop.
Eligibility for Pradhan Mantri Fasal Bima Yojana
- All the tenant farmers, sharecropper, and loanee farmers can apply for the scheme.
- Farmers must be the citizen of India.
- Applicant farmers must be harvesting the Kharif, Rabi or any other crop in their land.
How to Apply
Go to the portal of crop insurance of government at agri-insurance.gov.in
Register your self here by providing all n\basic details such as name, address and crop details and land details.
Farmers can download the android app by given link