Farmers in the country will be insured under the Pradhan mantri Fasal Bima Yojana in the event of crop failure due to a natural calamity.

Farmers in the country will be insured under the Pradhan mantri Fasal Bima Yojana in the event of crop failure due to a natural calamity. The Agriculture Insurance Company of India is in charge of implementing the scheme. The scheme only covers natural disasters such as drought and hailstorms. If the crop is damaged for any other reason, the insurance amount will be forfeited.

The central government has set a budget of Rs 8800 crore for this scheme. Farmers will be required to pay the insurance company 2% of their Kharif crop and 1.5% of their Rabi crop under this scheme. They will then be provided with insurance. If you want to apply for this scheme, you must first visit the official website and then follow the steps outlined below https://pmfby.gov.in/

Important Update!

The central government intends to reform the Pradhan Mantri Fasal Bima Yojana in order to rationalise premium rates and encourage more insurers to participate. According to some sources, after the Union Cabinet’s approval, some significant changes to the scheme will be implemented beginning with crop year 2024-25 (July-June). The need to modify this scheme was felt as insurance companies’ participation in PMFBY 2024 decreased. As a result of the lack of competition, existing insurers are being forced to pay higher premium rates.

Who are all Eligible for Pradhan Mantri Fasal Bima Yojana?

1. All the farmers in the country are eligible
2. Only those farmers of the country will be considered eligible under this scheme, who were not taking advantage of any other insurance scheme before
3. You can get insurance for farming done on your own land, as well as for farming done on land taken on rent.

Documents Required to Avail Benefits Under Pradhan Mantri Fasal Bima Yojana?

In order to avail of the benefits of the scheme the applicant must keep the following documents and information handy – 

1. Farmer ID Card
2. Aadhar Card
3. Ration Card
4. Bank Account
5. Address Proof of the farmer (such as driving license, passport, voter ID card)
6. If farming is being done on rented land, then a photocopy of the agreement with the owner of the farm
7. Farm Account Number / Khasra Number Papers
8. Photo of the Applicant
9. Date of the day the farmer started sowing the crop 

Premium Amounts Under Pradhan Mantri Fasal Bima Yojana

How to Register for the Pradhan Mantri Fasal Bima Yojana?

If you want to apply offline for the Pradhan Mantri Fasal Bima Yojana, you must follow the following procedure:

1. To begin, you must contact your local insurance company
2. The Agriculture Department will now provide you with an application form for the Pradhan Mantri Fasal Bima Yojana
3. Following that, you must fill out the application form with all of the required information, such as your name, phone number, email address, and so on
4. All relevant documents must now be attached to the application form
5. You must then submit this application to the Agriculture Department
6. The premium must now be paid
7. You will then be given a reference number
8. To check the status of your application, keep this reference number handy at all times.

Conclusion

The Pradhan Mantri Fasal Bima Yojana is a crucial scheme for farmers, providing them with financial assistance in case of crop losses due to natural calamities. Farmer registration is an important step in taking advantage of the scheme. With the launch of PMFBY, it is important for farmers to register themselves on the PMFBY portal and secure their crop against natural calamities.

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