Pradhan Mantri Fasal Bima Yojana Beneficiary List 2024 Our country is largely agricultural, with over 70% of the population engaged in farming. Recognizing this, the government offers several schemes to support farmers. One such scheme is the Pradhan Mantri Fasal Bima Yojana, which provides assistance in case crops are damaged by natural calamities. Farmers can apply for compensation under this scheme to cover their losses. Applications can be submitted online.
What is Pradhan Mantri Fasal Bima Yojana?
The Pradhan Mantri Fasal Bima Yojana was launched on February 18, 2016, by Prime Minister Narendra Modi to offer farmers financial protection against crop damage caused by natural disasters. If a farmer’s crop is destroyed due to unforeseen natural events, the government compensates for the loss. Farmers can apply for this insurance online or offline through the official website, paying a small premium for coverage.
To benefit from this scheme, farmers pay a premium based on a percentage of their crop income. For Kharif crops, the premium is 2%, for Rabi crops it is 1.5%, and for commercial crops, the premium is 5%.
Objective of Pradhan Mantri Fasal Bima Yojana
The scheme aims to provide financial support to farmers after crop loss, reducing the risk of indebtedness and discouraging extreme responses like suicide. In cases where farmers have taken loans to finance their farming, the government’s compensation helps them repay these loans even after suffering crop loss. If there is a warning of an impending disaster, the insurance company notifies farmers so they can avoid potential losses by delaying farming activities. This proactive approach helps reduce financial strain on farmers.
Benefits of Pradhan Mantri Fasal Bima Yojana 2024
- Protection Against Natural Loss: The government provides financial assistance through insurance in case of natural disasters affecting farming.
- Advanced Warnings: The insurance company may alert farmers of upcoming natural threats, enabling them to minimize losses by adjusting their farming schedule.
- State and Central Government Support: The insurance company receives funds from both the state and central governments, reducing the premium burden on farmers.
- Low Premium Requirement: Farmers pay a minimal premium for coverage, with only 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial crops.
- Crops Covered Under Pradhan Mantri Fasal Bima Yojana
The scheme covers three types of crops: Kharif, Rabi, and commercial. These include paddy, wheat, millet, pulses, cotton, maize, mustard, peanuts, sunflower, linseed, banana, watermelon, grapes, potatoes, onions, ginger, turmeric, garlic, oranges, guava, litchi, papaya, pear, tomato, peas, and cauliflower.
Eligibility for Application in Pradhan Mantri Fasal Bima Yojana
The farmer must be an Indian citizen.
No one in the applicant’s household should hold a government job.
Ownership documents for the land are required.
Only one member per family can apply.
The application must be submitted within the specified time, typically within two weeks of the sowing season’s start.
The farmer must have a bank account.
Application Process for Pradhan Mantri Fasal Bima Yojana
- Visit the official website to download the application form.
- Print the form and contact the Agriculture Department.
- Meet with a bank insurance agent to understand the application process.
- Fill out the form, providing details such as the type of crop and land information.
- Attach the necessary documents to the application form.
- Pay the premium for the insurance cover.
- After submission, keep the receipt safe for future reference