Pradhan Mantri Fasal Bima Yojana

E861899

Pradhan Mantri Fasal Bima Yojana is an Indian government crop insurance scheme that provides financial protection to farmers against losses due to natural calamities, pests, and diseases.

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Statements (49)

Predicate Object
instanceOf crop insurance scheme
government scheme
abbreviation PMFBY NERFINISHED
administeredBy empanelled general insurance companies
announcedBy Narendra Modi NERFINISHED
beneficiaryType loanee farmers
non-loanee farmers
centralShare higher for northeastern states
claimSettlementBasis yield loss assessment
claimSettlementMethod area yield index
country India
coverageLevel area approach
coversRisk diseases
natural calamities
pests
post-harvest losses
prevented sowing
standing crop loss
fundingPattern shared by central and state governments
implementationStart Kharif 2016 season
language Hindi
launchDate 2016-01-13
launchedBy Government of India NERFINISHED
Ministry of Agriculture and Farmers Welfare NERFINISHED
linkedTo Kisan Credit Card borrowers
objective encourage farmers to adopt innovative and modern agricultural practices
ensure flow of credit to the agriculture sector
provide financial support to farmers suffering crop loss or damage
stabilize the income of farmers
policyPeriod seasonal
premiumRateForFarmers 1.5% of sum insured for Rabi crops
2% of sum insured for Kharif crops
5% of sum insured for annual commercial and horticultural crops
primeMinisterAtLaunch Narendra Modi NERFINISHED
remainingPremium subsidized by central and state governments
replaced Modified National Agricultural Insurance Scheme NERFINISHED
National Agricultural Insurance Scheme NERFINISHED
sector agriculture
sumInsuredBasis scale of finance
targetBeneficiaries farmers
technologyUse GPS-based yield estimation
drones
remote sensing
smartphones
typeOfCropsCovered annual commercial crops
food crops
horticultural crops
oilseeds
unitOfInsurance notified area

Referenced by (1)

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Ministry of Agriculture and Farmers Welfare oversees Pradhan Mantri Fasal Bima Yojana