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Pradhan Mantri Fasal Bima Yojana 2024 – Apply Online, Eligibility & Benefits

Pradhan Mantri Fasal Bima Yojana: After ending the National Agriculture Insurance Scheme (NAIS), Weather-based Crop Insurance Scheme (WIS), and Modified National Agricultural Insurance Scheme (MNAIS), the Indian government implemented the Pradhan Mantri Fasal Bima Yojana (PMFBY) in 2016.

The Union Government allocated Rs. 16,000 crore to the Pradhan Mantri Fasal Bima Yojana for the fiscal year 2021-2022. This exceeds the allotment for fiscal year 2020-21 by over Rs. 305 crore. The PMFBY aims to protect farmers’ crops and ensure that crop insurance provides them with the most profit.

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Pradhan Mantri Fasal Bima Yojana Overview

Scheme Name	Pradhan Mantri Fasal Bima Yojana
Started By	Indian Government
Started By	2016
Objective	To ease the burden on farmers.

Pradhan Mantri Fasal Bima Yojana Objective

The PMFBY’s activities are focused on One Nation, One Crop, and One Premium. If any of the registered crops fail due to pests, sickness, or natural disasters, provide insurance coverage and financial assistance to farmers.

To provide farmers’ economic security, allowing them to continue farming.
To encourage agriculturalists to use cutting-edge, modern technology.
To ensure the agricultural sector’s financing flow.

Pradhan Mantri Fasal Bima Yojana Benefits

The following are some of the advantages of this scheme:

Comprehensive insurance coverage for Rabi and Kharif crops.
Increase the amount of coverage supplied in specific scenarios.
Farmers can choose whether or not to take out a loan.
Income stability for farmers is essential for them to continue farming.

Pradhan Mantri Fasal Bima Yojana Eligibility Criteria

Farmers must meet a number of standards to be eligible for coverage under the Pradhan Mantri Fasal Bima Yojana (PMFBY). A list of references is provided below.

On insured land, the farmer must be a cultivator or sharecropper.
Farmers must have a valid land ownership certificate or a current land tenancy agreement.
The farmer must have submitted an application for insurance coverage within the authorized time, which is usually two weeks after the sowing season begins.
They cannot have received any other compensation for the same crop loss.
At the time of enrollment, the farmer must provide proof of identity and a current bank account.
All farmers having an insurable crop stake who cultivate notified crops in notified locations this season are eligible.

How to Apply Pradhan Mantri Fasal Bima Yojana?

Step 1: Scroll down and go to the Important Links section.

Step 2: Click on the “Online Apply Link.”

Step 3: Press the “Farmer Corner” button.

Step 4: If the candidates do not already have an account on the platform, they should select Guest Farmer. After completing all of the information correctly, click the “Submit” button. We’ll open an account.

Step 5: Please fill out the insurance plan form and provide the essential information.