The Prime Minister Fasal Bima Yojana is a crop insurance scheme that was introduced by the Government of India to provide financial assistance to farmers in case of crop damage due to natural calamities, pests, etc. The scheme aims to alleviate the financial burden on farmers and reduce their risks in the agriculture sector. Farmers across India are eligible to participate in the scheme, and it provides coverage for a wide range of crops.
If you are a farmer who is interested in availing the benefits of the Fasal Bima Yojana, there are a few things you should know. Firstly, the scheme is implemented by the Ministry of Agriculture and Farmers Welfare and is available through the online portal of the Department of Agriculture, Cooperation and Farmers Welfare (DACFW). Secondly, the scheme is administered by multiple insurance companies, also known as empanelled insurance companies, who help in the implementation of the scheme.
To participate in the scheme, farmers need to contact a bank or an insurance company. The farmer must provide information regarding the crop being grown, and the insurance company will calculate the premium amount based on the crop and location. The premium is paid by the farmer and the government shares a portion of the farmers’ premium to help reduce the overall cost.
Once a farmer registers and pays the premium, the crop is insured for a specific period depending on the type of crop grown. In case of crop loss or damage, the farmer can file a claim with the insurance company for compensation. The claim settlement process is quick and efficient, and farmers receive assistance from experts in filing the same.
The Fasal Bima Yojana is an excellent initiative by the government to support and assist farmers in the agriculture sector. It not only alleviates the financial burden on farmers but also helps in reducing the risks associated with agriculture. Therefore, if you are a farmer, it is essential to know about this scheme and take advantage of it.