Understanding PM Fasal Bima Yojana


PM Fasal Bima Yojana (Prime Minister’s Crop Insurance Scheme) is an ambitious crop insurance scheme launched by the Government of India in January 2016. This scheme aims to provide financial support to farmers in times of crop failure due to natural calamities, pests, diseases, etc. The scheme not only protects farmers from financial losses but also ensures food security and stabilizes the farm sector. In this blog post, we will delve into the details of PM Fasal Bima Yojana, its features, benefits, implementation, and challenges.

Key features of PM Fasal Bima Yojana:

  1. Voluntary for Farmers: The scheme is voluntary for farmers, although the government encourages them to opt for it to safeguard their crops.
  2. Premium Subsidy: The premium rates for PM Fasal Bima Yojana are significantly subsidized by the central and state governments, making it affordable for farmers.
  3. Coverage: The scheme covers almost all food crops, oilseeds, and annual commercial/horticultural crops. It also extends to post-harvest losses.
  4. Risk Coverage: PM Fasal Bima Yojana provides coverage for yield losses due to natural calamities like drought, flood, pests, diseases, etc.
  5. Delayed Planting: The scheme covers crop loss due to delayed planting as well, ensuring protection against unforeseen circumstances.
  6. Technology-Driven: The scheme incorporates technology for quick assessment and settlement of claims, ensuring transparency and efficiency.
  7. Minimal Paperwork: PM Fasal Bima Yojana aims to minimize paperwork and red tape, simplifying the process for farmers to avail the benefits.

Benefits of PM Fasal Bima Yojana:

  1. Financial Security: The scheme provides financial security to farmers by compensating for crop losses, ensuring that they do not fall into debt traps.
  2. Stabilization of Income: PM Fasal Bima Yojana helps in stabilizing farmers’ income by providing compensation for crop loss, thereby ensuring a steady flow of income.
  3. Promotion of Risk-Averse Farming: By mitigating the risk of crop failure, the scheme encourages farmers to adopt modern agricultural practices and invest in high-yielding crops.
  4. Increased Agricultural Productivity: With the assurance of compensation in case of crop loss, farmers are motivated to enhance agricultural productivity, leading to overall sector growth.

Implementation of PM Fasal Bima Yojana:

  1. Identification of Crops: The first step in the implementation is the identification of crops and areas prone to various risks like drought, flood, pests, etc.
  2. Premium Calculation: Premium rates are calculated based on the crop, area, and historical data of crop yield and losses.
  3. Enrollment of Farmers: Farmers are enrolled in the scheme through Common Service Centers, insurance companies, and agriculture offices.
  4. Claim Settlement: In case of crop loss, farmers can register claims through the designated channels for a quick and transparent settlement process.
  5. Monitoring and Review: The implementation also involves monitoring the scheme’s progress, conducting regular reviews, and making necessary adjustments for better efficiency.

Challenges faced by PM Fasal Bima Yojana:

  1. Low Awareness: One of the significant challenges is the low awareness among farmers about the scheme and its benefits, leading to low enrollment.
  2. Delay in Claim Settlement: The delay in the settlement of claims is another challenge that needs to be addressed to instill confidence among farmers.
  3. Fraudulent Claims: Instances of fraudulent claims have been reported, highlighting the need for a robust mechanism to verify and process claims.
  4. Administrative Bottlenecks: Administrative bottlenecks in the implementation process can hinder the smooth operation of the scheme.
  5. Data Accuracy: Accurate data on crop cultivation, losses, and claims is crucial for the success of the scheme, posing a challenge in some regions.

Frequently Asked Questions (FAQs):

  1. Who is eligible to avail benefits under PM Fasal Bima Yojana?
  2. All farmers, including sharecroppers and tenant farmers, are eligible to enroll in the scheme.

  3. What is the claim settlement process under the scheme?

  4. Farmers need to register their claims with the designated authorities, following which the claims are verified and settled.

  5. Is there a limit on the sum insured under PM Fasal Bima Yojana?

  6. There is no upper limit on the sum insured under the scheme, ensuring comprehensive coverage for farmers.

  7. How can farmers enroll in PM Fasal Bima Yojana?

  8. Farmers can enroll through Common Service Centers, agriculture offices, or designated insurance companies.

  9. What documents are required for enrolling in the scheme?

  10. Farmers need to provide documents such as land records, Aadhaar card, and details of crops cultivated for enrollment.

  11. Are horticultural crops covered under PM Fasal Bima Yojana?

  12. Yes, horticultural crops are covered under the scheme, providing protection to farmers cultivating such crops.

  13. Can farmers avail benefits under PM Fasal Bima Yojana for losses due to pests and diseases?

  14. Yes, the scheme covers losses due to pests, diseases, and other localized calamities impacting crop yield.

  15. What is the role of insurance companies in the implementation of the scheme?

  16. Insurance companies play a crucial role in risk assessment, premium calculation, enrollment, and claim settlement under PM Fasal Bima Yojana.

  17. Is the premium subsidized for farmers under the scheme?

  18. Yes, the premium rates are subsidized by the central and state governments to make it affordable for farmers.

  19. How can farmers track the status of their claims under PM Fasal Bima Yojana?

    • Farmers can track the status of their claims online through the designated portals or by contacting the relevant authorities.

In conclusion, PM Fasal Bima Yojana is a significant step towards providing financial security to farmers and ensuring the stability of the agricultural sector in India. By addressing the challenges and improving the implementation process, the scheme can fulfill its objective of safeguarding farmers against crop losses and promoting sustainable agricultural practices.

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