Certainly, here’s an article on Pradhan Mantri Fasal Bima Yojana:
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Pradhan Mantri Fasal Bima Yojana Information
Agriculture is one of the most important sectors of the Indian economy, and yet it is also one of the most vulnerable to natural disasters and uncertainties. Crop failure due to adverse weather conditions, pests, disease, and other factors can have devastating effects on the income and livelihoods of farmers across the country. This is why the Indian government has launched various schemes and programs over the years to support farmers and mitigate their losses. One such scheme is the Pradhan Mantri Fasal Bima Yojana (PMFBY).
The Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme that aims to provide comprehensive risk coverage to farmers across the country. It was launched in 2016 as a replacement for the earlier National Agricultural Insurance Scheme (NAIS) and the Modified National Agricultural Insurance Scheme (MNAIS). The scheme is implemented by the Ministry of Agriculture and Farmers Welfare, and is administered by the Agriculture Insurance Company of India (AIC).
Under the PMFBY, farmers can insure their crops against various natural calamities such as drought, flood, hailstorm, cyclone, pests and disease, and other perils. The insurance coverage is available for both pre and post-harvest losses. The premium rates for the scheme are highly subsidized, with the farmers only having to pay a nominal amount of the total premium. The remaining amount is borne by the central and state governments in a 50:50 ratio. The premium rates are fixed based on the type of crop, crop area, and the level of risk involved.
The claims settlement process under the scheme is quick and hassle-free. The farmers can file their claims on the AIC’s website, portal, or mobile app within a specified time period after the occurrence of the event. The claims are verified by the crop cutting experiments (CCEs) conducted by the state government agencies or other designated agencies. The claims are settled within a maximum of two months of the completion of the CCEs.
The scheme also provides customized insurance products for specific types of crops, such as horticulture, commercial crops, and livestock. Additionally, the scheme has provisions for the coverage of localized risks, such as risks due to low rainfall or adverse weather conditions in specific areas.
The Pradhan Mantri Fasal Bima Yojana has provided significant benefits to the farming community in terms of financial security and stability. Since its launch, millions of farmers across the country have availed of the scheme and received compensation for their losses. The scheme has also led to increased awareness among farmers about crop insurance and risk management, which has helped in reducing their vulnerability to natural disasters and uncertainties.
In conclusion, the Pradhan Mantri Fasal Bima Yojana is a comprehensive crop insurance scheme that has been designed to protect the interests and livelihoods of farmers. It provides farmers with financial security and peace of mind, and helps in promoting sustainable agriculture and rural development. By encouraging farmers to adopt best practices and innovative technologies, the scheme is contributing to the overall growth and development of the agricultural sector in India.