Pradhan Mantri Fasal Bima Yojana 2023, Crop Insurance Scheme 2023 , PMFBY Login , PMFBY Status , PMFBY Village List , PMFBY premium rate :
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Government of India in 2016 to provide financial support to farmers in the event of crop failure due to natural calamities, pests, and diseases. Under this scheme, farmers pay a very low premium rate, and the government provides subsidies to cover the remaining cost of the insurance premium. The scheme covers all food crops, oilseeds, and horticultural crops, and is available to all farmers, whether they are loanee or non-loanee.
Pradhan Mantri Fasal Bima Yojana 2023 Details
Category | Schemes |
Scheme Type | Central Govt |
Other Names | Crop Insurance Scheme, PMFBY |
Launched on | 18th February 2016 |
Application Mode | Online |
Official Website | https://pmfby.gov.in |
Crop Insurance Scheme 2023
The scheme provides coverage for yield loss, prevented sowing, and post-harvest losses due to defined natural calamities. The claims are settled based on the extent of crop damage and the sum insured. The scheme also promotes the use of modern technology in assessing crop damages, and uses remote sensing, drones, and smartphones to assess crop damage quickly and accurately.
PMFBY is an important initiative by the Government of India to protect farmers against crop losses due to natural calamities and pests. It aims to encourage farmers to adopt modern technology, good farming practices, and efficient resource management to improve crop productivity and reduce the risk of crop failure. PMFBY is implemented by the Ministry of Agriculture and Farmers Welfare and is administered by the Agriculture Insurance Company of India (AIC). The scheme has been designed to provide a comprehensive insurance coverage for all stages of the crop cycle, from pre-sowing to post-harvest.
One of the unique features of PMFBY is the use of technology for crop cutting experiments (CCE), which are used to determine the yield of a particular crop in a given area. Under the scheme, CCEs are conducted using modern techniques such as satellite imagery, drones, and smartphones to ensure greater accuracy and transparency in the claims process.
PMFBY Premium rate 2023
The premium rates for the scheme vary depending on the type of crop, the sum insured, and the location of the farm. The premium rates are fixed by the government and are revised every year.
For Kharif crops, the premium rates range from 1.5% to 5%, while for Rabi crops, the premium rates range from 2% to 5%. For horticultural crops, the premium rates range from 3.5% to 10%. In addition to this, there is a subsidy component provided by the government to reduce the burden on farmers. The subsidy ranges from 50% to 90% of the premium amount, depending on the location and category of the farmer.
It is important to note that the premium rates under PMFBY may vary based on the insurance company selected by the farmer. However, the government sets a maximum limit for the premium rates, and the insurance companies are not allowed to charge a premium higher than the maximum limit set by the government.
The premium rates for PMFBY are very low, ranging from 1.5% to 5% of the sum insured for food crops and oilseeds, and from 5% to 10% of the sum insured for horticultural crops. The government provides a subsidy of up to 90% of the premium amount, which makes the scheme affordable for small and marginal farmers. PMFBY also provides a simplified and easy-to-use online platform for farmers to enroll, pay premiums, and file claims. The scheme has been widely adopted across the country, and has benefited millions of farmers by providing financial support in the event of crop losses.
Season | Crops | Maximum Insurance charges |
Kharif | Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) |
2.0% of SI or Actuarial rate, whichever is less |
Rabi | Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) |
1.5% of SI or Actuarial rate, whichever is less |
Kharif & Rabi | Annual Commercial / Annual Horticultural crops |
5% of SI or Actuarial rate, whichever is less |
Pradhan Mantri Fasal Bima Yojana 2023 Eligibility
1.Farmers who are engaged in crop production activities are eligible for PMFBY. The scheme is available for all farmers, including sharecroppers and tenant farmers.
2. The scheme covers all food crops, oilseeds, and commercial/horticultural crops. However, the crops should be notified by the respective state governments.
3. Farmers who have taken loans from financial institutions for the cultivation of notified crops are eligible for the scheme. However, the non-loanee farmers can also avail of the scheme by paying a premium.
4. The farmers who have insurable interest in the notified crops are eligible to apply for the scheme.
5. The age limit for applying to the scheme is 18 to 70 years.
The eligibility criteria for PMFBY may vary from state to state, and farmers are advised to check the eligibility criteria in their respective states before applying for the scheme.
Pradhan Mantri Fasal Bima Yojana-How to Apply
To apply for the Pradhan Mantri Fasal Bima Yojana, follow these steps:
- Contact the nearest agricultural insurance company or bank branch to get information about the scheme and the application process.
- Obtain the application form for PMFBY from the insurance company or bank.
- Fill in the form with all the required information, including personal details, crop details, and insurance coverage details.
- Submit the completed form along with the required documents, such as land records, bank account details, and crop details.
- Pay the premium amount, which is a percentage of the sum insured, as specified by the insurance company.
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After the submission of the application form and payment of premium, the insurance company will conduct a crop cutting experiment to assess the crop yield potential and finalize the claim amount.
List of Documents
To apply for Pradhan Mantri Fasal Bima Yojana (PMFBY), farmers need to submit the following documents along with the application form:
- Land documents – such as land ownership documents, lease agreement, or rent receipts.
- Crop-related documents – such as crop cultivation details, crop cutting experiment details, yield details, or any other crop-related documents.
- Bank account details – such as bank passbook copy, bank statement, or canceled cheque.
- Identification documents – such as Aadhaar card, Voter ID, PAN card, or any other government-issued identity card.
- Contact information – such as mobile number, email ID, and postal address.
- Premium payment receipt – The premium amount needs to be paid to the insurance company, and the premium payment receipt needs to be submitted.
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Other documents – Any other documents as specified by the insurance company, such as an affidavit or indemnity bond.
It is important to ensure that all the documents submitted are authentic and complete. Any incomplete or incorrect documents may result in the rejection of the application. Additionally, farmers should keep a copy of all the submitted documents for future reference.
How to Check PMFBY Status 2023
If you are a farmer and have enrolled in the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme, you can check the status of your PMFBY application and claim using the following steps
1.Visit the official website of the PMFBY scheme, which is pmfby.gov.in.
2. Click on the “Farmer Corner” tab on the homepage.
3. Select the state where you have enrolled in the PMFBY scheme.
4. Enter the required details such as your registration number, mobile number, or Aadhaar number, as per the state’s guidelines.
5. Once you have entered the necessary details, click on the “Get Details” button to view the status of your PMFBY application or claim.
Alternatively, you can also contact the nearest agriculture department or insurance company office to inquire about the status of your PMFBY application or claim.
It is advisable to apply for the Pradhan Mantri Fasal Bima Yojana before the crop sowing season to ensure timely coverage and avoid any delays. Additionally, farmers can also contact the toll-free number (1800-180-1551) or visit the official website of the scheme for more information and assistance.
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