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Pradhan Mantri fasal bima yojana (PMFBY)
(PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields.[1] It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS) by incorporating their best features and removing their inherent drawbacks (shortcomings). It aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum.PMFBY aims to provide a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers. The Scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield data is available and for which requisite number of Crop Cutting Experiments (CCEs) are being conducted under General Crop Estimation Survey (GCES).
Scheme Feature
1. The program offers all farmers insurance coverage for their crops, as specified by the state governments.
Everyone who farms the notified crops in the notified areas, including tenant farmers and sharecroppers, is eligible for coverage.
- For the notified/insured crops, farmers should have an insurable interest.
- The non-loanee farmers must provide the required documentary proof of the land records currently in the State (Records of Right (RoR), Land Possession Certificate (LPC), etc.) and/or applicable contract/agreement details/other documents notified/permitted by concerned State Government (in the case of sharecroppers/tenant farmers).
All farmers (i.e., loanee farmers) who get Seasonal Agricultural Operations (SAO) loans from Financial Institutions for the specified crop(s) will be required to be insured.
It is mandatory for all loanee cultivators to insist on insurance coverage as per provisions of the Scheme.
It is mandatory for all loanee cultivators to insist on insurance coverage as per provisions of the Scheme.
- The bank should be informed of any changes to the crop plan at least two days before the deadline.
- Insurance proposals are only accepted up until a deadline that has been set by the SLCCC or a state government notification.
The Scheme would be optional for non-loanee farmers and cultivators who wish to obtain insurance under PMFBY for any notified crop in any notified insurance unit may approach the closest bank branch/ PACS/ authorized channel partner/ insurance intermediary of insurance company within cut-off date, submit form and deposit necessary premium to bank branch/ Insurance Intermediary/ CSC Centers along with necessary documentation.
- The proposal form should include information about the farmer's opening and operation of the account in the branch of the specified bank where coverage is desired.
- The farmers must include documentary proof of their ownership of cultivable land together with their land identification number in the proposal.The cultivator must present a confirmation of the area sown certificate.
- The farmer should make sure he obtains insurance coverage from a single provider just for the crop(s) that are being grown or are planned to be grown on a specific plot of land. Farmers are not permitted to purchase more than one insurance policy, and in such circumstances they will not be covered. The insurance provider reserves the right to deny any such claims and not issue a premium refund in such circumstances.
- The business might file a lawsuit against these farmers.
- The bank should be informed of any changes to the crop plan at least two days before the deadline.
- Insurance proposals are only accepted up until a deadline that has been set by the SLCCC or a state government notification.
2. Crops Covered
The program covers all types of crops, including annual commercial and horticultural crops as well as food and oilseed crops for which historical yield information is available.
In addition to perennial crops, perennial horticulture crops for which a consistent technique for yield estimation is available might also be the subject of pilots for coverage.
The program covers all types of crops, including annual commercial and horticultural crops as well as food and oilseed crops for which historical yield information is available.
In addition to perennial crops, perennial horticulture crops for which a consistent technique for yield estimation is available might also be the subject of pilots for coverage.
3.Coverage of Risks and Exclusions under the scheme
The Scheme functions in the chosen Defined Areas, which are referred to as Insurance Units (IU), based Crops, and Defined Areas in line with decisions made in the State level coordination, according to the "Area Approach" principle.
committees on crop insurance under the jurisdiction of the State or UT. These units are designated as insurance units for main crops and are applicable to villages, village panchayats, or any other analogous units. For all other crops, a unit of measurement above the village or village Panchayat level may apply.
The plan covers risks that could result in crop loss and the subsequent stages of the crop.
A. Prevented Sowing/ Planting Risk:
The plan covers risks that could result in crop loss and the subsequent stages of the crop.
If the majority of the insured crops in a designated region are unable to be sown or planted as a result of unfavorable weather, such as a lack of rain or unfavorable seasonal conditions, the insured crops will be eligible for indemnity claims up to a maximum of 25% of the guaranteed amount.
B. Standing Crop (Sowing to Harvesting):
For yield losses resulting from non-preventable hazards, such as drought, dry spells, flood, inundation, pests and diseases, landslides, natural fires and lightning, storm, hailstorm, cyclone, typhoon, tempest, hurricane, and tornado, comprehensive risk insurance is offered.
C. Post-Harvest Losses:
For crops that are permitted to dry in cut and spread condition on the field after harvesting against specific threats of hailstorm, cyclone and cyclonic rains, and unseasonal rains, coverage is only offered up to a maximum time of two weeks following harvesting.For claims resulting from crop damage due to post-harvest losses and localized risks, arising out of cyclone or cyclonic rains / unseasonal rains throughout the country, resulting in damage to harvested crop lying in the field in 'cut and spread' condition for sole purpose of drying only, upto a maximum period of two weeks (14days) from harvesting is also covered, and the assessment of damage will be made on an individual farm basis.
D. Localized Calamities:
Loss or damage brought on by the occurrence of locally specific risks of hailstorm, landslide, flooding, cloud burst, and natural fire affecting solitary farms in the notified area
4.Indemnity Level applicable for different crops
5.Premium
6.Basis of Claims Settlements