Pradhan Mantri Fasal Bima Yojana: The Government of India has introduced the first Prime Minister Fasal Insurance Scheme (PMFBY). National Agricultural Insurance Scheme (NAIS), Weather Based Crop Insurance Scheme and Revised National Agriculture Insurance Scheme (MNAIS).
So, at present, PMFBY is the only major scheme of government for agricultural insurance in India.
Sources told the government that budget allocation for the Pradhan Mantri Fassel insurance Scheme (PMFBY) for the current financial year could make Rs 13,000 crore for 2018-19, which is Rs 10,701 crore for the current financial year.
pradhan mantri fasal bima yojana details
The Union Budget for 2018-19 will be presented on February 1.
Launched at the beginning of PMFBY, 2016 under the upgraded crop insurance scheme, farmers pay very modest premiums and receive full claim for crop damage.
According to sources, budget allocations for Pradhan Mantri Fasal Bima Yojana could reach Rs 13,000 crore for the next fiscal year, which increases by about 10 per cent increase in the sum assured.
While the Ministry of Agriculture has solicited a budget of Rs 11,000 crore for the major plan for the next fiscal year, but the Ministry is considering the importance of the Ministry of Finance for receiving more funding from the Finance ministry while contemplating the significance of the scheme.
For the current financial year, the government initially gave a budget of Rs 9,000.75 crore for PMFBY. However, the total allocation for the additional requirement of Rs 1,701 crore was made to the tune of Rs 10,701 crore through complementary demands.
Total crop insurance claim for 2016-17 crop year (July-June) is estimated to be Rs 15,500 crore according to official data, of the 13,661 crores already claimed, of which 12,313 crores have been settled.
2016-17 5.70 crore farmers purchased crop insurance policy PMFBY during crop year.
Under Pradhan Mantri Fasal Bima scheme, the premiums of farmers have been kept up to 1.5-2 percent for food and oilseed crops and up to 5 percent for horticulture and cotton crops.
No cap on premiums and 25 percent of the potential claim will be fixed directly in the farmers accounts.
Pradhan Mantri Fasal Bima Yojana Online Registration
Many person thinks about How to Apply Online as Farmer Under PMFBY.
To register online as a farmer under the Prime Minister’s Fascal Insurance Scheme, log on to agri-insurance.gov.in and fill out all required details.
To receive the PMFBY policy amount directly in the bank account, it is necessary to fill the land and bank details too.
After filling and submitting the full form to the farmers, an application number will be provided which they can use to track, modify or print their application in the future.
For more information and position on crop insurance schemes, the government has also released the PMFBY Android app.
PM Fasal Bima Yojana Guidelines PDF
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