Pradhan Mantri Fasal Bima Yojana (PMFBY)

**Pradhan Mantri Fasal Bima Yojana (PMFBY)** is a comprehensive crop insurance scheme launched by the Government of India on **18 February 2016**. The primary objective of PMFBY is to provide financial support to farmers suffering crop loss or damage arising out of unforeseen events, thereby stabilizing their income and encouraging them to adopt innovative and modern agricultural practices.

🎯 Objectives of PMFBY

Comprehensive Coverage: Provide insurance coverage for all crops (including horticultural crops) against non-preventable risks from pre-sowing to post-harvest stages.
Financial Support: Offer financial assistance to farmers in case of crop loss due to natural calamities, pests, and diseases.
Income Stabilization: Ensure the stabilization of farmers' income to ensure their continuance in farming.
Encouragement for Modern Practices: Promote the adoption of innovative and modern agricultural practices by mitigating risks.

💼 Key Features

Affordable Premium Rates: Farmers pay a nominal premium, which is significantly lower than the actual risk coverage.
- Kharif Crops: 2% premium.
- Rabi Crops: 1.5% premium.
- Annual Commercial and Horticultural Crops: 5% premium.
Government Subsidy: The balance premium is subsidized by the government, with no upper limit on the subsidy.
Comprehensive Coverage: Covers a wide range of risks, including prevented sowing, standing crop losses, post-harvest losses, and localized calamities.
Use of Technology: Incorporates technology such as smartphones, drones, and remote sensing for accurate assessment of crop damage and timely claim settlement.

🧾 Eligibility Criteria

Farmers Covered: All farmers growing notified crops in a notified area during the season are eligible.
Voluntary Enrollment: Since 2020, enrollment has been 100% voluntary for all farmers.
Unit of Insurance: The scheme operates on the basis of 'Village Panchayat' as the unit of insurance, ensuring localized risk assessment and compensation.

📝 How to Enroll

Visit Nearest Bank or CSC: Approach the nearest bank branch, Common Service Center (CSC), or the local agriculture department office.
Submit Required Documents: Provide necessary documents such as Aadhaar card, land records, and other identification proofs.
Pay Premium: Pay the applicable premium amount, which is minimal and varies based on the crop and season.
Receive Acknowledgment: Obtain an acknowledgment receipt with details of the insured crop, sum insured, and other relevant information.

📈 Achievements

Increased Coverage: Significant increase in the number of farmers opting for crop insurance, providing them with a safety net against agricultural risks.
Financial Stability: The scheme has helped in stabilizing farmers' incomes by providing timely compensation during crop loss incidents.
Technological Integration: Effective use of technology has streamlined the claim process, making it more transparent and efficient.

🔗 Useful Links

Note: For more detailed information, including the list of notified crops and areas, premium rates, and claim procedures, please refer to the official PMFBY website or contact the local agriculture department.