Maharashtra has recently achieved a noteworthy feat, leading the way for other Indian states by becoming the first to synchronize its land records with the online portal of Pradhan Mantri Fasal Bima Yojana (PMFBY). This monumental step offers substantial benefits such as curtailing instances of over-insurance and negating assurance for ineligible individuals.
Pioneering Claims Settlement under PMFBY
Notably, Maharashtra also takes pride in ranking among the top five states for settlement of insurance claims under PMFBY. The financial year 2018-19 witnessed as many as 1.39 crore farmers in the state opting for the scheme. Additionally, the total premium amassed during this period amounted to a significant Rs 4,778.30 crore.
Understanding Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Pradhan Mantri Fasal Bima Yojana, inaugurated in 2016, operates under the oversight of the Ministry of Agriculture and Farmers Welfare. Its key objective is to offer inclusive insurance coverage against crop failure, thereby contributing towards income stability for farmers.
The scope of PMFBY extends to all food and oilseed crops, as well as annual commercial/horticultural crops for which historical yield data is accessible. The specified premium stands at 2% for all Kharif crops and 1.5% for all Rabi crops. For annual commercial and horticultural crops, the premium rises to 5%. Participation in the scheme is mandatory for loanee farmers availing Crop Loan or a Kisan Credit Card (KCC) account for notified crops whereas for others it remains voluntary. The scheme’s implementation is carried out by designated general insurance companies with the Implementing Agency (IA) chosen via bidding by the concerned State Government.
| Crop Type | Premium |
|---|---|
| Food and oilseed crops (Kharif) | 2% |
| Food and oilseed crops (Rabi) | 1.5% |
| Annual commercial/horticultural crops | 5% |
Implications of Land Records Integration
The integration of land records with PMFBY is a crucial step towards transparency and efficiency in the implementation of the scheme. It offers multiple benefits such as the elimination of ‘over-insurance’, that is the insurance of more land than owned. It also checks the insurance of ineligible people, making sure only the deserving farmers benefit from the scheme. This initiative of Maharashtra marks an important milestone in leveraging digital technology for better governance in agriculture.