Pradhan Mantri Fasal Bima Yojana
Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, aims at supporting sustainable production in agriculture sector by way of providing financial support to farmers suffering crop loss/ damage arising out of unforeseen events stabilizing the income of farmers to ensure their continuance in farming encouraging farmers to adopt innovative and modern agricultural practices 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 farmers from production risks.
All farmers including sharecroppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage. Special efforts shall be made to ensure maximum coverage of SC/ ST/ Women farmers under the scheme.
- Following crops are covered: 1) Food crops (Cereals, Millets and Pulses), 2) Oilseeds 3) Annual Commercial / Horticultural crops
- Following stages of the crop and risks leading to crop loss are covered under the scheme:
- Prevented Sowing/ Planting Risk: Insured area is prevented from sowing/ planting due to deficit rainfall or adverse seasonal conditions
- Standing Crop (Sowing to Harvesting): Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, viz. Drought, Dry spells, Flood, Pests and Diseases, Hailstorm, Cyclone etc.
- Post-Harvest Losses: Coverage is available only up to a maximum period of two weeks from harvesting.
- Localized Calamities: Loss/ damage resulting from occurrence of identified localized risks of hailstorm, landslide, and Inundation affecting isolated farms in the notified area.