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Lesson-37 Government insurance scheme Part-2
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Pradhan Mantri Fasal bima yojana

Rishi Jain
MBA,PGDFM Author of Bhavishya Arthik Patrika(for Civil Services), worked in SBI group for 7 years, teaching indian economy to UPSC student

U
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adhunik Punjab er jonok-Lala lajpot Rai hobe
rishi sir, GDP GVA pe videos upload kriye plz govt shifted to GDP from GVA
  1. Pradhanmantri Fasal Bima Yojana


  2. Pradhanmantri Fasal Bima Yojana Pradhan Mantri Fasal Bima Yojana (PMFBY) is the new crop insurance scheme launchedby Central Government. PMFBY will replace the existing two schemes National Agricultural Insurance Scheme as well as Modified NAIS which have had some inherent drawbacks. Pradhan Mantri Fasal Bima Yojana which will be implemented in every state of India, with association with the respective State Governments. This crop insurance scheme will be administered under the Ministry of Agriculture and Farmers' Welfare, Government of India Previous Crop Insurance Schemes 1985- Comprehensive Crop Insurance scheme 1999- National Agricultural Insurance Scheme 2007- Weather based crop insurance scheme 2010- Modified National Agricultural Insurance Scheme


  3. Features of Pradhan Mantri Fasal Bima Yojana Some of the innovative features of the scheme are: 1.Lower premiums compared to existing insurance schemes. 2.Insuring income of the farmer and not crop per se. 3.In PMFBY, there will not be a cap on the premium and reduction of the sum insured 4.Promises to provide prompt and easy settlement of claims through the use of technology like GPS, smart phones, remote sensing and drones to access actual crop damage. 5.25 per cent of the likely claim will be settled directly on farmers account 6.There will be one insurance company for the entire state. 7.The scheme also provides for coverage of post-harvest losses. 8.Covers localised crop losses like hailstones.


  4. Farmers to be covered All farmers growing notified crops in a notified area during the season who have insurable interest in the crop are eligible. Compulsory Coverage The enrollment under the Pradhan Mantri Fasal Bima Yojana scheme, subject to possession of insurable interest on the cultivation of the notified crop in the notified area, shall be compulsory for following categories of farmers: 1.Farmers in the notified area who possess a Crop Loan account/KCC account (called as Loanee Farmers) to whom credit limit is sanctioned/renewed for the notified crop during the crop season 2.Such other farmers whom the Government may decide to include from time to time.


  5. POST-HARVEST LOSSES (individual farm basis): Coverage is available up to a maximum period of 14 days from harvesting for those crops which are kept in "cut & spread" condition to dry in the field after harvesting, against specific perils of cyclone / cyclonic rains, unseasonal rains throughout the country.


  6. Premium Rates S.No Season Crops Maximum Insurance charges payable by farmer 1% of Sum Insured) 1 | Kharif Food & Oilseeds crops (all 2.0% of SI or Actuarial rate , cereals, millets, & oilseeds, whichever is less pulses) Rabi Food & Oilseeds crops (all | 1.5% of SI or Actuarial rate, cereals, millets, & oilseeds, whichever is less pulses) | Kharif & | Annual Commercial / Annual Rabi Horticultural crops | 5% of SI or Actuarial rate. whichever is less 3


  7. Q. Which of the following statement is/are true? 1. Sampoorna Bima Gram Yojana is now available to both government and non-government employee. In Jeevan Jyoti Bima Yojana, the beneficiary will claim after maturity of the policy In Pradhanmantri Fasal Bima Yojana, the premium of kharif and rabi crops are 1.5% and 2% respectively 2. 3. Codes: a. Only 1 b. 1, 2 & 3 c. 1 & 3 d. 2 & 3


  8. Pradhanmantri Fasal Bima Yojana Pradhan Mantri Fasal Bima Yojana (PMFBY) is the new crop insurance scheme launchedby Central Government. PMFBY will replace the existing two schemes National Agricultural Insurance Scheme as well as Modified NAIS which have had some inherent drawbacks. Pradhan Mantri Fasal Bima Yojana which will be implemented in every state of India, with association with the respective State Governments. This crop insurance scheme will be administered under the Ministry of Agriculture and Farmers' Welfare, Government of India Previous Crop Insurance Schemes 1985- Comprehensive Crop Insurance scheme 1999- National Agricultural Insurance Scheme 2007- Weather based crop insurance scheme 2010- Modified National Agricultural Insurance Scheme


  9. Features of Pradhan Mantri Fasal Bima Yojana Some of the innovative features of the scheme are: 1.Lower premiums compared to existing insurance schemes. 2.Insuring income of the farmer and not crop per se. 3.In PMFBY, there will not be a cap on the premium and reduction of the sum insured 4.Promises to provide prompt and easy settlement of claims through the use of technology like GPS, smart phones, remote sensing and drones to access actual crop damage. 5.25 per cent of the likely claim will be settled directly on farmers account 6.There will be one insurance company for the entire state. 7.The scheme also provides for coverage of post-harvest losses. 8.Covers localised crop losses like hailstones.


  10. Farmers to be covered All farmers growing notified crops in a notified area during the season who have insurable interest in the crop are eligible. Compulsory Coverage The enrollment under the Pradhan Mantri Fasal Bima Yojana scheme, subject to possession of insurable interest on the cultivation of the notified crop in the notified area, shall be compulsory for following categories of farmers: 1.Farmers in the notified area who possess a Crop Loan account/KCC account (called as Loanee Farmers) to whom credit limit is sanctioned/renewed for the notified crop during the crop season 2.Such other farmers whom the Government may decide to include from time to time.