Pradhan Mantri Fasal Bima Yojana (PMFBY) means it is a
agriculture crop insurance scheme implemented in India by Honourable Prime
Minister Narendra Modi to recover the losses of crops due to natural hazards by
paying minimum premium for Kharif,Rabi and Horticulture crops.
Objectives Of Pradhan Mantri Fasal Bima Yojana (PMFBY)
-To provide insurance coverage and financial support to the
farmers in the event of crop failure due to natural calamities, pests &
diseases.
- To stabilise the income of farmers to ensure their
continuance in farming.
- To encourage farmers to adopt innovative and modern agricultural
practices.
- To ensure flow of credit to the agriculture sector.
Implementing Agency Of Pradhan Mantri Fasal Bima Yojana (PMFBY)
The scheme implemented by various insurance companies under
the control of central and state government departments like Department of Agriculture,
Cooperation & Farmers Welfare (DAC&FW), Ministry of Agriculture & Farmers
Welfare (MoA&FW), Government of India (GOI) and the concerned Statein
co-ordination with various other agencies Financial Institutions like Commercial
Banks, Co-operative Banks, Regional Rural Banks and their regulatory bodies,
Government Departments viz. Agriculture, Co-operation, Horticulture, Statistics,
Revenue, Information/Science & Technology, Panchayati Raj etc.
Premium Rates For Pradhan Mantri Fasal Bima Yojana (PMFBY)
| S.No | Season | Crops | Premium Rate |
|---|---|---|---|
| 1 | Kharif | Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) | 2% |
| 2 | Rabi | Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) | 1.50% |
| 3 | Kharif & Rabi | Annual Commercial / Annual Horticultural crops | 5% |
Eligible Farmers For Pradhan Mantri Fasal Bima Yojana (PMFBY)
The farmers of sharecroppers and tenants growing crops in
notified areas and notified crops for following rules and conditions in the
act.
Apply For Pradhan Mantri Fasal Bima Yojana (PMFBY)
The farmers paying premium rates for different crops as mentioned above in the list,the application form online is available in the official website of central goverment.
