Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana



The Pradhan Mantri Fasal Bima Yojana also known by the abbreviation PMFBY may be a step that has been taken by the central government of the country(All the schemes of Central Government). it’s a crop insurance scheme that has been designed by the govt for assisting the farmers in receiving monetary assistance on the event of crop damage thanks to natural calamities. The farmers will need to pay low premiums for getting the insurance.

Eligibility Criteria For PM Fasal Bima Yojana

No classification of farmers –
The desire of the govt in providing the advantages of the scheme to as many farmers has possible, has encouraged them to eliminate any segregation or classification. Any farmer is welcome to be a neighborhood of the crop insurance scheme.

Ownership of land isn’t a problem –
Some of the prior schemes were only open for those farmers who owned the land. But the PMFBY isn’t like that. it’ll not take into consideration whether the farmer is that the actual owners of the land or has it on a rental basis.

Safeguarding the non-loanee farmers –
The rules of the scheme highlight that if an agricultural labor has not applied for the other credit for framing purpose, then they’re going to need to produce proper documents for being a neighborhood of the PMFBY. this type of farmers is named non-loanee farmers.

Key Features Pradhan Mantri Fasal Bima Yojana

Knowing about the salient features of the scheme may be a must if you’re willing to require the benefits of the scheme:

A substitute for all other agro-based schemes –
The names of the previous schemes for farmers, has already been mentioned. With the successful implementation of the PMFBY, the central government is trying to bring all those schemes under one head. Farmers of all categories are allowed to enjoy the advantages of the scheme

Low premium rate –
The average farmers of the country are poor. it’s impossible for them to make sure the security of their crops by paying high crop insurance premiums. Under the PMFBY, they’re going to got to pay low insurance premiums and thus, safeguarding their agro-investment are going to be easy. The premium rate 2% for Kharif crop, 1.5% for the Rabi crop and 5% for commercial crops.

Mode of payments –
Presence of a lively checking account may be a must because the government can pay the insurance money to the farmers, through the bank. The insurance money are going to be deposited to the checking account then the farmers are going to be ready to withdraw it.

Insurance coverage –
It has been mentioned that the premium is a smaller amount and therefore the farmers will need to pay a fraction of the insured amount. But just in case of a natural calamity, the farmers are going to be entitled to urge the complete amount that has been mentioned within the policy .

Tax exemption –
Tax is levied by the govt on any quite investment. except for the betterment of the farmers, the govt has decided to form the scheme tax free. It means the farmers won’t need to worry about any tax deductions.

Insurance Premium Calculator –
Premium calculation for acquiring the policy isn’t any easy task. But fear not because it are often accomplished easily by using the special feature called the “Insurance Premium Calculator.” It assists in churning out the premium amount a farmer must invest, counting on the sort of crop.Insurance Calculator PMFBY

Loan facility –
The reservation of acquiring any special credit for the betterment of the agricultural yield won’t be possible against PMFBY program. The program is all the shied that the farmers require for securing the agricultural investments.

The facility of nomination –
As of now, the govt has declared nothing about the method of nominating someone under the scheme. The farmer himself are going to be ready to apply for the policy .

Coverage of farmers and Crops in Fasal Bima Yojana

When discussing the coverage of farmers, you would like to understand about the 2 main components that are highlighted within the draft of the PMFBY scheme.

There are two main variables during this section. there’s room for both the voluntary and therefore the compulsory components. Alongside, there are reservations which will convince be beneficial for the farmers who have access to ST/SC/OBC certificates.

All those farmers who have already applied and received any quite agricultural credit from the govt or the banks will come under the scheme directly. Thus, these farmers are referred to as the compulsory competent of the scheme. it’s imperative that the cash be used for planting a seasonal crop. SAO credit is that the full sort of the seasonal crop cultivation loan.
As for the voluntary component, this group comprises of the farmers or the agricultural workers who don’t have any quite credit to their name. By providing the adequate papers, these farmers also can become a neighborhood of the PMFBY.

Food crops also as commercial crops are often insured under the PMFBY.

The list contains rice, wheat, pulses, millets, castor, groundnut, linseed, cashew , guava, banana, and mangoes. These are the crops that are grown by the farmers, in various parts of the country.

Risk Converge

Planting or prevented sowing risks –
Without proper rainfall, the sown seeds won’t germinate. it’ll directly affect the crop production and incur loss for the farmers. If the farmer has suffered from losses or has not been ready to plant the seeds thanks to low rainfall, the he will get the claim .

Standing harvest risks –
The entire period after the planting of the seeds and therefore the harvesting of the rip crop is named the standing period of the crops. Any failure that’s caused thanks to the unforeseen circumstances, which are natural in character, are going to be incorporated within the policy regulations.

Post-yield risks –
The farmers require time for arranging the crop before extracting the ultimate fruit. The time is mentioned because the spreading or drying time. If the harvest is broken thanks to natural forces, within a frame of fortnight , then the govt will provide the farmers with the insurance money.

Localized mishaps –
No one can predict the mood of nature and neither can anyone predict the extent of the calamity. It so happens that a natural calamity only affects a particular part while the others remain unharmed. Cases like these also will be entitled to urge the insurance money.

Risk Not Covered

Artificial or manmade reasons –
If the standing or the harvested crop is broken by any artificial or manmade reason, then the farmer won’t get the insurance money. for instance , if the crops are destroyed thanks to the consequences of the war of any nuclear fallout or radiation, then the policy won’t cover it.

Mending the damage of stolen crops –
It is the duty of the farmer to stop the crops from being stolen. If someone sets the whole harvest ablaze , then that too is that the responsibility of the farmer. If any human interference and lack of protection has caused the damage to be done, it’ll fall outside the clearance of the policy .

Damages caused by animals –
If the harvest is broken by the action of domesticate or wild animals, the govt won’t buy the damages. it’s the responsibility of the farmer to require adequate measures for keeping the crops faraway from the clutches of the animals.

Documents Required In Crop Insurance Scheme

The following documents are required for applying for the insurance scheme:

Land related documents –
Whether the farmer is planting on his own land or on rented land, he will need to produce proper land related documents. For successfully applying under the scheme, the farmers will need to prove that each one legal papers of the land are so as .

Identity proof of the farmer –
The farmer will need to provide proper documents which will support the identification claims of the farmers. this will be met by producing any of the subsequent papers – Aadhar Card, ratio card, PAN Card, Voter ID card etc. The document will provide the name, residential address of the farmer.

Bank account details –
It has already been mentioned that the insurance money are going to be directly transferred into the official checking account of the farmer. Thus, furnishing the small print of the checking account is additionally mandatory.

Sowing declaration –
For acquiring the particular investment that the farmer has lost, he must notify the respective department about the worth of the entire crop. The paper that contains these details is named the sowing declaration. Producing this paper may be a must. it’ll assist the authority in getting an estimated valuation and knowledge on the type of crop, planted on the land.

Bank or Agency Under the scheme
The central government would require the help of the chosen banks and a few reputed insurance companies for settling the claims under the PMBFY. Co-operative banks, Commercial banks, and Regional Rural Banks will play a crucial role in settling the insurance claims of the farmers. Few selected third party or private insurance companies are going to be given the permission of selling the claims, via the banks. The banks and selected agencies are chosen to eliminate the presence of third party within the settlement process who charges a particular percentage from the farmers.

How to get form for Pradhan Mantri Fasal Bima Yojana

It is true that the PMFBY is elaborate with many clauses. For acquiring a far better understanding of the scheme, one can take a better check out the official website of the program. to urge to the web site , you’ll need to click on the link http://agri-insurance.gov.in/.

Once you reach the web site , you’ll click on the right link which will provide you with the appliance form. By clicking on the link https://pmfby.gov.in/farmerRegistrationForm, the interested candidate will get the web form .

Pradhan Mantri Fasal Bima Yojana form

How to Apply for Pradhan Mantri Fasal Bima Yojana (offline and online)

Both the web and offline modes of application are available. If you’re more familiar with the offline mode, you’ll need to click on the official website then get the appliance form downloaded during a PDF format. Once the download is complete, you would like to urge a transparent print out of the shape . Fill within the details and fasten the photocopy of the documents that are asked by the authority. Once this has been done, you would like to submit the shape and await its approval.

After acquiring the knowledge about the offline process of application, it’s time to debate about the web application procedure. For this, the interested candidate will need to follow the steps mentioned below:

To get the web form , the interested candidate will need to click on the authorized web link. When the page has opened, the link for acquiring the appliance form must be clicked.

Clicking on the link that has been marked as “apply as farmer” will offer you access to the shape . As you get the shape , you would like to fill it accordingly. confirm all the small print are correct.

Once the shape refill has been completed, the candidate must click on the “Submit” link. After the successful submission of the shape , the location will generate an application code. Note it down because it might are available handy during the claim settlement process.

How to claim the insurance money under PMFBY

For claiming the insurance money, the farmers will need to make the appliance within fortnight of the damage. aside from attaching the specified legal papers, some complex figures must be churned for getting a transparent idea about the damage done.

The two variables required are Actual Yield or the AY and therefore the Threshold Yield i.e. TY. All the claim settlement are going to be done consistent with this calculation. The farmers need to prove that the years AY has been far below the TY. Only under this circumstance will the farmer tend the cash .

Claims Payout = (Shortfall in Yield / Threshold Yield) * Sum Insured

For understanding the particular quantity of the Shortfall in Yield, the claim verification agency must subtract the edge Yield amount from Actual Yield. The authority will take the ultimate decision after doing the required calculations. If the farmers want to reinforce the probabilities of getting the insurance money, they’re going to need to be prompt in their action and keep all the documents duly updated. Providing the right information may be a must.

Documents List for Claiming

Claim form –
In case the farmer has incurred an important loss thanks to any natural calamity, he will need to submit a form . Before submitting the form , the farmer must confirm that each one the small print are filled in correctly.

Land records –
Furnishing the legal documents, related to the land on which the farming is completed , must be attached with the form . it’ll help the respected authority in verifying the claims.

Information of the insurance firm –
The farmers can prefer to purchase crop insurance from other private companies also . After the damage to the crop has been done, the owner of the crop will need to produce the papers of that insurance firm or agency to the bank.

Certificate of Insurance –
The actual certificate of the policy that was given to the farmer during the acquisition of the policy, must be attached with the claim papers. it’s the proof that the crop and therefore the land were actually insured.

Photographs of crop damage –
Providing the verification authority with the proof of crop damage claims may be a must. they’re going to not believe the words of mouth. Thus, attaching two high-quality snaps of the damaged crop may be a must.

Sowing certificates –
Just as during the appliance process, the farmer will need to attach a photocopy of the sowing certificate with the damage claim settlement papers. it’s needed for a few verification by the insurance firm and therefore the government authority.

Add a replacement crop name under Fasal Bima Yojana

The crop planning is completed beforehand then the farmer opts for the insurance. the quantity of premium that the farmer will need to pay will depend directly on the crop he desires to sow. But what if the farmer features a change of mind? During the fiscal year of 2017 – 2018, the govt has updated the scheme and added the supply of adjusting the crop preference.

Under this feature, the farmer who has already taken the crop insurance for one crop will get the power of adjusting the crop name with another, a minimum of 30 days before the cut-off day of buying or planting.

Process of adjusting the crop name Under the scheme

The farmer will need to go online to the official website and obtain to the appliance form link. Under the section that’s marked as “Land and Crop Details” the farmer will have specify the name of the new crop. He will need to select the “Revenue Village” then enter the plot number within the “Survey No./Plot No” column. He must then enter the name of the new crop. subsequent column will contain the entire insured area in hectares. In “Sowing date” the farmer must specify the day of planting the seeds. The last column is marked as “Crop Sown Certificate.”

Official App for Pradhan Mantri Fasal Bima Yojana in Hindi and English
Recently, the Ministry of Agriculture, in cooperation with the IT sector has launched a mobile application for the program. The name of the app is ‘Crop Insurance App’ and it’ll assist the candidate in acquiring information on the varied aspects of the scheme. a person who features a smartphone that operates on the Android OS are going to be ready to download the ‘Crop Insurance App’ from Google PlayStore. After downloading the appliance , it’ll be saved within the phone and one can gather information about the program.

Toll Free Number for Scheme

For all those that aren’t comfortable with the portal based operation or don’t skills to work the smartphone application, can get the small print about the program within the traditional manner. By dialing the toll free number 1800 180 1551, the interested candidate are going to be ready to ask the customer care executives and acquire the data they seek.

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