5 Commonly Asked Questions on the Pradhan Mantri Fasal Bima Yojana

 

Launched in 2016 with an intention to cover the total sown area of the country, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme for all types of farmers. The motto with which this scheme was launched is “One Nation, One Crop, One Premium”. A crop insurance scheme that provides extensive coverage to farmers on several fronts was highly needed, and the PMFBY has filled that need adequately. Even so, the awareness regarding this useful scheme is quite less.  To help in this regard, we take a look at the top 5 FAQs on the Pradhan Mantri Fasal Bima Yojana and answer them for your benefit. 

 1. What are the objectives of the PMFBY?

 

The primary aim of this crop insurance scheme is to offer financial support to farmers when their crops suffer damages and losses. Thus, it wants to make crop insurance accessible to all farmers at an economical price. The scheme also has an objective to ensure that farmers’ incomes do not get hit adversely as a result of crop damage, thus making sure that farmers are empowered to continue farming.  Farmers would also be encouraged to adopt new and advanced agricultural methods. This would also lead to positive competitiveness in the farming sector and secure a steady flow of credit as well. 

 

2. What kind of risks are covered under the Pradhan Mantri Fasal Bima Yojana? 

 

The PMFBY crop insurance scheme covers the farmer against these risks-

 

Yield Losses or Mid-season adversities - This coverage includes losses to the crop yield against adverse weather conditions like floods, typhoons, cyclones, dry spells, drought, and so on during midseason. 

 

Prevented sowing / Planting risk - The farmer may be prevented from sowing crops due to hostile weather conditions. In such scenarios, they can get financial aid from their insurer. 

 

Localized calamities - This includes protection from local natural disasters such as landslides, cloud burst, inundation, hailstorm, and so on. 

 

Losses occurring post-harvest - When the insured crops suffer damages while they are being kept to dry in cut and spread condition in the fields, the insurer is liable to pay for the losses as mentioned in the crop insurance policy. 

 

3. Who is eligible for the Pradhan Mantri Fasal Bima Yojana?

 

The PMFBY crop insurance scheme is available for all farmers who have insurable interest for their notified/insured crops. Tenants as well as sharecroppers can avail this scheme. Earlier, only loanee farmers would be included under crop insurance policies. However, the Pradhan Mantri Fasal Bima Yojana is open for non-loanee farmers as well. To avail the coverage, they must submit relevant documents regarding their land ownerships and related agreements and contracts. 

 4. What crops are covered under the PMFBY scheme?

 

The PMFBY scheme covers food crops such as cereals, millets, and pulses. Oilseeds, annual horticultural crops, and annual commercial crops are also covered. 

 

5. What are the exclusions of the Pradhan Mantri Fasal Bima Yojana?

 

The PMFBY crop insurance scheme excludes any losses caused to crops due to war and similar situations, malicious damages, and other risks that are preventable.  

 

Hopefully, this article will increase awareness regarding the Pradhan Mantri Fasal Bima Yojana in India.