Sure, here is an article about Pradhan Mantri Fasal Bima Yojana:
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Indian Government. The scheme provides financial protection to farmers against crop losses due to natural calamities, pests, and other unforeseen events. PMFBY aims to increase the coverage of crop insurance and ensure the timely settlement of claims to farmers.
PMFBY was introduced in January 2016, and since then, it has emerged as one of the most successful crop insurance schemes in India. The scheme covers all crops grown in the field, and farmers can avail of insurance coverage up to 90% of the sum insured. PMFBY premiums are low, and the government provides subsidies to farmers for premium payment.
One of the significant advantages of PMFBY is the use of technology for claim settlement. Farmers can register online claims using their mobile phones, and the claims are settled electronically through Direct Benefit Transfer (DBT) within 15 days. The scheme also includes the use of remote sensing technology and drones to assess the extent of damage to crops and expedite the claim settlement process.
Under PMFBY, crop insurance policies are issued by insurance companies that have been empaneled by the government. The government also provides subsidies to these insurance companies to reduce the premium rates for the farmers. The insurance companies are responsible for the online registration of farmers, assessment of crop losses, and payment of claims.
PMFBY has been successful in increasing the coverage of crop insurance in India. In the current financial year 2020-21, around 57 million farmers have been insured under PMFBY, which is almost 30% more than the previous financial year. The scheme has also resulted in a reduction in the claims settlement time and an increase in the percentage of claims settled.
However, there have been some criticisms of PMFBY. Some farmers have complained that the premiums are too high, and the sum insured is not sufficient to cover their entire crop. Others have criticized the exclusion of certain crops and the lack of transparency in the claim settlement process.
In conclusion, PMFBY is a significant step towards providing financial protection to farmers against crop losses. The scheme has helped increase the coverage of crop insurance and expedited the claims settlement process. However, there is scope for improvement in the scheme, and the government should consider addressing the concerns raised by farmers to make it more effective.