Page 31 - NIS - English, 01-15 January 2023

Flagship
Fasal Bima Yojana

FARMERS RECEIVED ALMOST

5 TIMES OF THE PREMIUM

The government is making many efforts for the welfare of the farmers, which includes within the
ambit of its strategy protecting their crops from the risk of natural calamities to doubling the
income of the farmers. Launched in the year 2016, Pradhan Mantri Fasal Bima Yojana (PMFBY)
is completing 6 years on January 13. By providing risk coverage from pre-sowing to post-
harvest, this scheme is improving the condition of farmers. So far, 38 crore farmers have been
enrolled in this initiative, under which more than 11.73 crore farmer applicants have been paid
claims worth about Rs 1.25 lakh crore

After the year 2014, we made
some changes. The scope of
the crop insurance scheme has
been extended so that even a
small farmer can take advantage
of it for a nominal amount. The
compensation given through this
is higher than the amount given
through the loan waiver.
-Narendra Modi, Prime Minister

radhan Mantri Fasal Bima Yojana (PMFBY) was The Central Government has revamped the Pradhan
Plaunched in 2016 to address the issue of farmers' Mantri Fasal Bima Yojana in the Kharif season 2020.
inability to get crop insurance due to lack of money, The most important change was made that instead of
high premium rates, and capping. The scheme is 50%, the central government now gives a 90% share
completing 6 years of implementation. During this in the subsidy for crop insurance to the farmers of
period claims of more than Rs 1,24,223 crore have the North-Eastern states. The state government has
been paid to more than 11.73 crore farmer applicants. to pay only a 10% subsidy.
During this period, farmers had paid a premium of
about Rs 25,185 crore. That is, the farmers have Now there is no fear of risk related to weather
received almost 5 times the premium paid (Received PMFBY is available to all States and Union Territories
Rs 493 on payment of Rs 100 premium) as claims. on a voluntary basis. So far 27 States/UTs have
The launch of PMFBY was aimed at giving farmers implemented PMFBY in one or more seasons.
a simple and affordable crop insurance option to Assam, Chhattisgarh, Goa, Haryana, Himachal
ensure comprehensive risk coverage for crops Pradesh, Jammu and Kashmir, Karnataka, Kerala,
against all natural risks from pre-sowing to post- Madhya Pradesh, Manipur, Meghalaya, Odisha,
harvest and provide adequate claim amounts. The Puducherry, Rajasthan, Sikkim, Tamil Nadu, Tripura,
scheme is demand-driven and available to all farmers. Uttar Pradesh, and Uttarakhand have already notified
Under this scheme, it is easy for the farmer to report for implementation of PMFBY in FY 2022-23. It also
crop loss within 72 hours of any incident through provides coverage against crop loss due to landslides,
Fasal Bima App, Citizens Service Centre, or Nearest hailstorms, floods, droughts, cloudbursts, and
Agriculture Officer. natural fires.

New India Samachar January 1-15, 2023 29