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Pradhan mantri fasal bima yojana 2021

Pradhan Mantri Fasal Bima Yojana(PMFBY) 2021

Pradhan mantri fasal bima yojana 2021

Objectives of PMFBY

  • Providing insurance coverage and financial assistance to farmers in the event of failure of any crop notified as a result of natural disasters, pests & diseases.
  • Stabilizing the income of farmers to continue in agriculture.
  • Encouraging farmers to adopt innovative and modern farming methods.
  • make sure the credit flow to the agricultural sector.

Highlights of the scheme

  • Farmers have to pay a uniform premium of 2% for all kharif crops and only 1.5% for all rabi crops. In the case of annual commercial and horticultural crops, the premium payable by farmers is only 5%. The premium rates payable by farmers are very low and the government pays the balance premium to provide the full sum insured to the farmers against crop damage due to natural calamities.

Who are eligible to apply

  • All farmers cultivating notified crops in the notified area during this season are eligible for crop insurance.

How to apply PMFBY

To calculate the insurance premium payable:-

How to report crop loss and claim insurance

  • The farmer can report crop damage within 72 hours of any incident through the Crop Insurance App, CSC Center or the nearest agricultural officer. Claim Benefit is provided electronically to eligible farmer bank accounts.

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