What is Pradhan Mantri Fasal Bima Yojana ?






Hina Hina
Answered on March 26,2019

Objective of Pradhan Mantri Fasal Bima Yojana is 

  • To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.
  • To stabilise the income of farmers to ensure their continuance in farming.
  • To encourage farmers to adopt innovative and modern agricultural practices.
  • To ensure flow of credit to the agriculture sector.

Lal Lal
Answered on March 26,2019

Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in the agriculture sector by way of

  • providing financial support to farmers suffering crop loss/damage arising out of unforeseen events
  • stabilizing the income of farmers to ensure their continuance in farming
  • encouraging farmers to adopt innovative and modern agricultural practices
  • ensuring flow of credit to the agriculture sector; which will contribute to food security, crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting farmers from production risks.

Varun Varun
Answered on March 27,2019

Key features of the scheme are the following.

  • Providing financial support to farmers suffering crop loss/damage due to unforeseen events
  • Stabilizing the income of farmers
  • Encouraging farmers to adopt innovative and modern agricultural practices
  • Ensuring flow of credit to the agriculture sector
  • Three level of indemnity 70, 80 and 90
  • Sum Insured equivalent to scale of finance
  • Scheme envisages many new things such as utilizing innovative technologies like satellite imagery, vegetation indices etc. coupled with the mandatory usage of smart phones / hand held devices for increasing the speed and accuracy during yield estimation.
  • Digitization of CCEs including geo-tagging, date-time stamping and photographs
  • Single series data for production estimates and insurance
  • Access to Insurance Company for co-observance of CCEs
  • Written information to IC about CCE schedule by State Govt.
  • Usage of RST, Drone and Mobile technology to aid CCEs and yield assessment