PRADHAN MANTRI FASAL BIMA YOJANA

 PRADHAN MANTRI FASAL BIMA YOJANA

PMFBY

Pradhan Mantri Fasal Bima Yojana, aims at supporting sustainable production in agriculture sector by way of__

1 >Providing financial support to farmers suffering crop loss / damage arising out of unforeseen events.

2 >Stabilizing the income of farmers to ensure their continuance in farming.

3 >Encouraging farmers to adopt innovative and modern agricultural practices.

4 >Ensuring flow of credit to the agriculture sector, which will contribute to food security crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting the farmers from production Risk.

Coverage of Farmers:- 

All farmers including share croppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage under PMFBY. 

 

Coverage of Risk:- 

1 >Prevented sowing / Planting risk.

2 >Standing crop(sowing to harvesting) :- Drought, Dry spells, flood, inundation, pest and disease, Land slides,natural fire, lighting, storm, hailstorm, Tempest etc.

3 >Post harvest :- If crop are allow to dry in cut and spread condition in the field after harvesting against cyclone, unseasonal rain. etc

History and background :-

 PMFBY is replaces with two existing schemes those are 

1> National Agri Insurance scheme.

2> Modified National Agri Insurance scheme

A beginning in crop insurance scheme was made by General insurance corporation(G I C) In 1972 by implementing an experimental crop insurance schemes for cotton crop on individual approach.

1979 - Pilot crop insurance schemes (PCIS)

1985 - CCIS, comprehensive crop insurance scheme.

1997 - 98 -  Re lunched CCIS.

1999 - National Agri Insurance scheme

2010 - Modified National Agri Insurance scheme

2016 -  PMFBY

Lunched Date and some impotent data about PMFBY

 1 > In union budget 2016 - 2017, The Finance Minister Mr. Arun jailtely Introduced PMFBY.

2 >Allocated a budget of Rs/- 1240 crores later the amount was raised to Rs/- 5500 crores.
3 > Soon on 13^th January 2016, The Prime minister Narendra Modi officially lunched PMFBY.
4 >PM released the operating guideline of PMFBY on 18^th February in sherpur village, sehore MP.
5 > Uttarakhand become 1^st adopted state.

6 > 21 State implemented the scheme in kharif 2016
      23 state and 2 UT implemented the scheme in Rabi 2016-17.

Highlight

• Premium for Kharif crop  - 2%
• Premium for Rabi crop   - 1.5%
• Premium for annual and horticulture crop - 5%

        No upper capping on government subsidy

        Target on 5 years 145 mega ha.
        Target budget 13000 crore allocated for PMFBY