The Haryana government launched the portal for the 'Mukhya Mantri Bagwani Bima Yojana' crop insurance scheme. The Agriculture Minister launched the portal with an initial fund of Rs. 10 crore. Under the scheme, farmers will be compensated for crop losses due to adverse weather or natural disasters.
The Haryana Agriculture Minister J P Dalal launched the 'Mukhya Mantri Bagwani Bima Yojana' crop insurance portal with an initial corpus of Rs 10 crore. The scheme will compensate farmers for crop damage from adverse weather or natural calamities. It covers 21 crops including vegetables, spices and fruits. Farmers will receive compensation between Rs 30,000-40,000 per acre depending on the extent of damage assessed.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is India's crop insurance scheme that provides financial support to farmers suffering crop loss/damage from natural calamities. It offers affordable premiums of 2% for kharif crops, 1.5% for rabi crops, and 5% for annual commercial/horticulture crops. The scheme covers yield losses and post-harvest losses up to 14 days. It aims to stabilize farmer incomes, encourage modern farming practices, and ensure credit flow to agriculture. However, questions remain around its high costs and ability to effectively implement promised protections for farmers.
The document summarizes key aspects of the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme launched in India in 2016. Some key points:
- PMFBY aims to provide insurance coverage and financial support to farmers against crop failures from natural calamities at lower premium rates than previous schemes.
- It covers yields losses for notified crops as well as some post-harvest losses. Premium rates are 2% for kharif crops, 1% for rabi crops, and 5% for horticulture.
- The government will bear most of the costs, even up to 90% of the premium. Smart technology will be used to assess claims quickly
State Government Schemes in Agriculture in GujaratDhaval Bhanderi
This document provides information about various state government schemes to support agriculture in Gujarat, India. It discusses schemes related to crop insurance, accidental insurance for farmers, minimum support prices, farmer training centers, soil and water testing laboratories, and contract farming. The key schemes covered are the National Agriculture Insurance Scheme (NAIS), Farmers Accidental Insurance Scheme (FAIS), Minimum Support Price (MSP) program, Farmers Training Centers (FTC), and soil and water testing laboratories operated by the state government. The document provides details on eligibility, benefits, and how farmers can participate in these various support programs.
This document provides an overview of crop insurance in India, including the various approaches, concepts, types of crop insurance schemes, and the evolution of crop insurance in India. It discusses the National Agricultural Insurance Scheme and its key challenges, as well as the Weather Based Crop Insurance Scheme. It also briefly covers livestock insurance schemes in India.
PMFBY is India's largest crop insurance scheme that provides coverage to over 50 crore farmers for over 50 crops. It aims to stabilize farm incomes against losses from natural calamities. Key features include lower premiums of 2-5% paid by farmers, higher government subsidy, and coverage of localized risks. While it provides timely financial support, some issues remain around delays in claims, benefit to insurance companies, and lack of awareness. Overall, PMFBY helps reduce farmers' economic losses from natural disasters through affordable insurance coverage.
Government schemes in the agricultural sector in India.pdfHarisharan Devgan
Government schemes in agriculture in India play a crucial role in supporting and promoting the agricultural sector, which is the backbone of the country's economy. These schemes are designed to address the challenges faced by farmers, improve agricultural productivity, ensure food security, and enhance the livelihoods of rural communities. They provide financial assistance, technical support, and access to resources, helping farmers adopt modern practices, mitigate risks, and achieve sustainable agricultural growth.
The Haryana Agriculture Minister J P Dalal launched the 'Mukhya Mantri Bagwani Bima Yojana' crop insurance portal with an initial corpus of Rs 10 crore. The scheme will compensate farmers for crop damage from adverse weather or natural calamities. It covers 21 crops including vegetables, spices and fruits. Farmers will receive compensation between Rs 30,000-40,000 per acre depending on the extent of damage assessed.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is India's crop insurance scheme that provides financial support to farmers suffering crop loss/damage from natural calamities. It offers affordable premiums of 2% for kharif crops, 1.5% for rabi crops, and 5% for annual commercial/horticulture crops. The scheme covers yield losses and post-harvest losses up to 14 days. It aims to stabilize farmer incomes, encourage modern farming practices, and ensure credit flow to agriculture. However, questions remain around its high costs and ability to effectively implement promised protections for farmers.
The document summarizes key aspects of the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop insurance scheme launched in India in 2016. Some key points:
- PMFBY aims to provide insurance coverage and financial support to farmers against crop failures from natural calamities at lower premium rates than previous schemes.
- It covers yields losses for notified crops as well as some post-harvest losses. Premium rates are 2% for kharif crops, 1% for rabi crops, and 5% for horticulture.
- The government will bear most of the costs, even up to 90% of the premium. Smart technology will be used to assess claims quickly
State Government Schemes in Agriculture in GujaratDhaval Bhanderi
This document provides information about various state government schemes to support agriculture in Gujarat, India. It discusses schemes related to crop insurance, accidental insurance for farmers, minimum support prices, farmer training centers, soil and water testing laboratories, and contract farming. The key schemes covered are the National Agriculture Insurance Scheme (NAIS), Farmers Accidental Insurance Scheme (FAIS), Minimum Support Price (MSP) program, Farmers Training Centers (FTC), and soil and water testing laboratories operated by the state government. The document provides details on eligibility, benefits, and how farmers can participate in these various support programs.
This document provides an overview of crop insurance in India, including the various approaches, concepts, types of crop insurance schemes, and the evolution of crop insurance in India. It discusses the National Agricultural Insurance Scheme and its key challenges, as well as the Weather Based Crop Insurance Scheme. It also briefly covers livestock insurance schemes in India.
PMFBY is India's largest crop insurance scheme that provides coverage to over 50 crore farmers for over 50 crops. It aims to stabilize farm incomes against losses from natural calamities. Key features include lower premiums of 2-5% paid by farmers, higher government subsidy, and coverage of localized risks. While it provides timely financial support, some issues remain around delays in claims, benefit to insurance companies, and lack of awareness. Overall, PMFBY helps reduce farmers' economic losses from natural disasters through affordable insurance coverage.
Government schemes in the agricultural sector in India.pdfHarisharan Devgan
Government schemes in agriculture in India play a crucial role in supporting and promoting the agricultural sector, which is the backbone of the country's economy. These schemes are designed to address the challenges faced by farmers, improve agricultural productivity, ensure food security, and enhance the livelihoods of rural communities. They provide financial assistance, technical support, and access to resources, helping farmers adopt modern practices, mitigate risks, and achieve sustainable agricultural growth.
Law and Agriculture PPT- SHIVANI SINGH(128).pptx85Topper
Agricultural insurance provides protection to farmers against losses from crop failures caused by natural disasters and other events beyond their control. India has implemented several agricultural insurance schemes over the years to address this issue, with varying degrees of success. The current flagship scheme is Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, which aims to reduce farmers' insurance premium burden and ensure timely settlement of claims. However, past schemes faced issues and left many farmers uninsured, so further improvements may be needed to achieve wide coverage of farmers across India.
This document provides an overview of crop insurance in India, including the evolution of different schemes. It discusses the risks faced by Indian farmers and different approaches to crop insurance. The major schemes discussed are the Pilot Crop Insurance Scheme from 1979-1984, the Comprehensive Crop Insurance Scheme from 1985-1999, the Experimental Crop Insurance Scheme in 1997-1998, and the National Agricultural Insurance Scheme implemented from 1999 to present. It provides details on the features and performance of each scheme. Key challenges identified include only covering loanee farmers, limited crop coverage, low sums insured, and high claim ratios under previous schemes.
Agriculture is a major part of India's economy, contributing 25% to GDP. However, agricultural production has stagnated in recent years due to small landholdings, dependence on monsoons, lack of infrastructure and technology. The government has implemented various policies and programs to support the agricultural sector, including providing subsidies, developing new crop varieties, expanding irrigation and credit, and creating support systems like agriculture extension services and crop insurance. The Targeted Public Distribution System aims to ensure food security for poor families across India.
The document discusses various government schemes and policies in India aimed at benefiting farmers and improving the agricultural sector. It outlines schemes focused on irrigation and water management like Pradhan Mantri Krishi Sinchai Yojana, organic farming such as Paramparagat Krishi Vikas Yojana, crop insurance through Pradhan Mantri Fasal Bima Yojana, and soil health evaluation with the Soil Health Card Scheme. The government aims to maximize farm output, generate rural employment, and provide sustainable livelihoods for citizens through these agricultural development programs and initiatives.
1) The document discusses various agricultural insurance schemes in India including Pradhan Mantri Fasal Bhima Yojana, which provides insurance coverage and financial support to farmers for crop failures due to natural calamities.
2) It also describes the Livestock Insurance Scheme, a centrally sponsored scheme that provides protection against loss of livestock and is implemented through state livestock development boards.
3) The Agriculture Insurance Company of India (AIC) is introduced as the major public sector crop insurer that aims to provide coverage and support to farmers against losses from various natural disasters.
Join Best Agriculture Coaching in Chandigarhagrimentors
We are India's most trusted leading institute in Chandigarh for providing subject wise coaching for Agriculture exams like NABARD, IBPS AFO, ADO, FCI, CWC, IIFCO-AGT, NSC, ICAR and other government exams. Each faculty of our institute has control over its subjects. Agri Mentors is known as the best Agriculture coaching institute in India for online and offline coaching. JOIN NOW OR CALL TODAY FOR DISCUSSION - +91-936021110
https://www.agrimentors.in/
Crop insurance schemes have evolved in India over several decades to protect farmers from risks of crop failure. The current National Agricultural Insurance Scheme (NAIS) was launched in 1999 and makes crop insurance compulsory for loan-taking farmers. It covers lower premiums but has limitations like delayed claims, low compensation levels, and exclusion of certain risks. The Modified NAIS launched in 2010 uses actuarial premiums with government subsidies to make premiums affordable for farmers. It aims to address some issues but challenges remain in accurately designing insurance indices and assessing losses. Improving coverage levels, reducing assessment costs, and faster compensation are suggested to strengthen crop insurance for farmers.
Agriculture is a main stay of Indian economy. About fifty percent population of India is dependent upon agriculture sector for their sustenance notwithstanding its reduced share in GDP of India. Agricultural production is frequently affected by natural disasters like floods, earthquake, drought, cyclone etc. these events severely affect the income of the farmers through loss in agricultural production as these events are beyond the control of farmers. With the commercialization of agriculture, magnitude of loss due to these events is increasing. The important strategy which can effectively address the risk to output and farm income is agriculture insurance. Since independence the various agriculture insurance schemes have been introduced in the country. The main objective of this paper is to examine the growth and performance of agriculture insurance in India. The farmers who have insured their crops during the rabi season were 78362063 and during kharif season were 192794173 from 1999 00 to 2015 16 under the NAIS. Dr. Manisha | Harpreet Kaur "Crop Insurance Schemes in India: A Glance" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25354.pdfPaper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/25354/crop-insurance-schemes-in-india-a-glance/dr-manisha
Transforming Indian Agriculture PM Kisan Yojana.pptxcosmo-soil
The PM Kisan Yojana is transforming Indian agriculture by providing financial support to small and marginal farmers. With Rs. 6,000 annually, this initiative promotes financial inclusion, reduces dependence on moneylenders, and boosts morale. It ensures direct benefit transfers, fostering transparency and economic stability in rural areas.
PM Kisan Samman Nidhi Yojana: All You Need to Knowspeed bich
The PM Kisan Samman Nidhi Yojana is a crucial agricultural scheme initiated by the Government of India. The main objective of this scheme is to provide financial assistance to impoverished farmers and improve their livelihoods. The scheme aims to provide an annual support of ₹6,000 to the country's poor farmers.
This document provides an overview of crop insurance initiatives in India. It discusses various crop insurance schemes introduced since the 1970s such as the Pilot Crop Insurance Scheme (PCIS), Comprehensive Crop Insurance Scheme (CCIS), National Agricultural Insurance Scheme (NAIS), Modified NAIS (MNAIS), Weather Based Crop Insurance Scheme (WBCIS) and Pradhan Mantri Fasal Bima Yojana (PMFBY). Key features of these schemes such as area approach, risk coverage, premium rates and subsidies are explained. Case studies demonstrating the benefits of insurance for farmers are also presented. The document emphasizes using technology like drones and satellites to improve crop insurance implementation and monitoring.
The document provides an analysis of the Indian government's budget allocations for Dalits and Tribals. It notes that the Tribal Sub Plan and Special Component Plan were established to allocate funds for Dalits and Tribals in proportion to their population. However, an examination of budgets shows that claims of increased allocations are misleading, and in reality funding suffers from the same discrimination faced by these communities. Key features of guidelines for these allocations are also outlined, including that funds should be non-lapsable, non-divertible, and spent only on programs directly benefiting these groups.
Agriculture production and farm incomes in India are frequently affected by natural disasters like flood, drought and earthquake etc.
Agricultural insurance is considered an important mechanism to effectively address the risk to output and income resulting from various natural and manmade events.
This document discusses managing risk in Philippine agriculture through insurance, credit guarantees, and microfinance. It provides details on the Philippine Crop Insurance Corporation which insures farmers against losses, and the Agricultural Guarantee Fund Pool which guarantees loans to small farmers. It also describes the Rural Household Business Financing program which provides financing for farm and off-farm livelihood projects to diversify farmer incomes and risks. Expansion of these programs is needed to better manage agricultural risks.
This document discusses crop insurance in India. It outlines several challenges facing Indian agriculture like small land holdings, soil exhaustion, drought vulnerability, and issues with minimum support prices. To address risk, the government offers various crop insurance options like yield index insurance and weather index insurance. India has had a publicly administered crop insurance scheme since 1972, but all variants introduced had flaws and incurred losses. The latest initiative is Pradhan Mantri Fasal Bima Yojna launched in 2016 to incorporate the best features of previous schemes and remove weaknesses in an effort to alleviate farmer distress.
The Rajasthan government has approved a 5% subsidy scheme on agricultural loans from Bhoomi Vikas Banks to help struggling farmers repay their loans due to issues like inadequate rainfall, crop failures, and the COVID-19 pandemic. The scheme provides a 5% subsidy on interest for farmers who repay their long-term loans on time. The deadline for the scheme was extended from March 31 to June 30, 2021 to provide benefits to more farmers. This decision aims to provide relief to farmers during the pandemic and allocate additional funds to farmer welfare. However, some farmers affected by low rainfall and hailstorms could not take advantage of the scheme due to pandemic issues.
This study examines the history of agricultural insurance schemes in India, including the challenges of implementing them. It discusses several schemes launched over time, from an initial individual farmer approach in the 1970s to the latest National Crop Insurance Program in 2013. Major issues with agricultural insurance in India include large insured areas, unreliable historical data, lack of awareness among non-loan farmers, and high premium rates.
This article describes the various challenges and opportunities in implementing Agriculture insurance in India. It also details the historical insurance programs and crop insurance schemes implemented by the Government of India in the past few decades.
The PM-Kisan scheme provides eligible farmer families with financial support of Rs. 6,000 per year, distributed in three installments of Rs. 2,000 each. More than 10 lakh farmers will receive a total of Rs. 20,000 crore under the 12th installment of PM Kisan. To check your eligibility and status, you can visit the PM Kisan website and search by Aadhaar number or account number. The scheme defines eligible farmers as family farmer units with landholding of up to 2 hectares. Professionals such as doctors, engineers, lawyers and former/present government employees are not eligible for the scheme.
More Related Content
Similar to Haryana govt launched crop insurance portal of.docx
Law and Agriculture PPT- SHIVANI SINGH(128).pptx85Topper
Agricultural insurance provides protection to farmers against losses from crop failures caused by natural disasters and other events beyond their control. India has implemented several agricultural insurance schemes over the years to address this issue, with varying degrees of success. The current flagship scheme is Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, which aims to reduce farmers' insurance premium burden and ensure timely settlement of claims. However, past schemes faced issues and left many farmers uninsured, so further improvements may be needed to achieve wide coverage of farmers across India.
This document provides an overview of crop insurance in India, including the evolution of different schemes. It discusses the risks faced by Indian farmers and different approaches to crop insurance. The major schemes discussed are the Pilot Crop Insurance Scheme from 1979-1984, the Comprehensive Crop Insurance Scheme from 1985-1999, the Experimental Crop Insurance Scheme in 1997-1998, and the National Agricultural Insurance Scheme implemented from 1999 to present. It provides details on the features and performance of each scheme. Key challenges identified include only covering loanee farmers, limited crop coverage, low sums insured, and high claim ratios under previous schemes.
Agriculture is a major part of India's economy, contributing 25% to GDP. However, agricultural production has stagnated in recent years due to small landholdings, dependence on monsoons, lack of infrastructure and technology. The government has implemented various policies and programs to support the agricultural sector, including providing subsidies, developing new crop varieties, expanding irrigation and credit, and creating support systems like agriculture extension services and crop insurance. The Targeted Public Distribution System aims to ensure food security for poor families across India.
The document discusses various government schemes and policies in India aimed at benefiting farmers and improving the agricultural sector. It outlines schemes focused on irrigation and water management like Pradhan Mantri Krishi Sinchai Yojana, organic farming such as Paramparagat Krishi Vikas Yojana, crop insurance through Pradhan Mantri Fasal Bima Yojana, and soil health evaluation with the Soil Health Card Scheme. The government aims to maximize farm output, generate rural employment, and provide sustainable livelihoods for citizens through these agricultural development programs and initiatives.
1) The document discusses various agricultural insurance schemes in India including Pradhan Mantri Fasal Bhima Yojana, which provides insurance coverage and financial support to farmers for crop failures due to natural calamities.
2) It also describes the Livestock Insurance Scheme, a centrally sponsored scheme that provides protection against loss of livestock and is implemented through state livestock development boards.
3) The Agriculture Insurance Company of India (AIC) is introduced as the major public sector crop insurer that aims to provide coverage and support to farmers against losses from various natural disasters.
Join Best Agriculture Coaching in Chandigarhagrimentors
We are India's most trusted leading institute in Chandigarh for providing subject wise coaching for Agriculture exams like NABARD, IBPS AFO, ADO, FCI, CWC, IIFCO-AGT, NSC, ICAR and other government exams. Each faculty of our institute has control over its subjects. Agri Mentors is known as the best Agriculture coaching institute in India for online and offline coaching. JOIN NOW OR CALL TODAY FOR DISCUSSION - +91-936021110
https://www.agrimentors.in/
Crop insurance schemes have evolved in India over several decades to protect farmers from risks of crop failure. The current National Agricultural Insurance Scheme (NAIS) was launched in 1999 and makes crop insurance compulsory for loan-taking farmers. It covers lower premiums but has limitations like delayed claims, low compensation levels, and exclusion of certain risks. The Modified NAIS launched in 2010 uses actuarial premiums with government subsidies to make premiums affordable for farmers. It aims to address some issues but challenges remain in accurately designing insurance indices and assessing losses. Improving coverage levels, reducing assessment costs, and faster compensation are suggested to strengthen crop insurance for farmers.
Agriculture is a main stay of Indian economy. About fifty percent population of India is dependent upon agriculture sector for their sustenance notwithstanding its reduced share in GDP of India. Agricultural production is frequently affected by natural disasters like floods, earthquake, drought, cyclone etc. these events severely affect the income of the farmers through loss in agricultural production as these events are beyond the control of farmers. With the commercialization of agriculture, magnitude of loss due to these events is increasing. The important strategy which can effectively address the risk to output and farm income is agriculture insurance. Since independence the various agriculture insurance schemes have been introduced in the country. The main objective of this paper is to examine the growth and performance of agriculture insurance in India. The farmers who have insured their crops during the rabi season were 78362063 and during kharif season were 192794173 from 1999 00 to 2015 16 under the NAIS. Dr. Manisha | Harpreet Kaur "Crop Insurance Schemes in India: A Glance" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25354.pdfPaper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/25354/crop-insurance-schemes-in-india-a-glance/dr-manisha
Transforming Indian Agriculture PM Kisan Yojana.pptxcosmo-soil
The PM Kisan Yojana is transforming Indian agriculture by providing financial support to small and marginal farmers. With Rs. 6,000 annually, this initiative promotes financial inclusion, reduces dependence on moneylenders, and boosts morale. It ensures direct benefit transfers, fostering transparency and economic stability in rural areas.
PM Kisan Samman Nidhi Yojana: All You Need to Knowspeed bich
The PM Kisan Samman Nidhi Yojana is a crucial agricultural scheme initiated by the Government of India. The main objective of this scheme is to provide financial assistance to impoverished farmers and improve their livelihoods. The scheme aims to provide an annual support of ₹6,000 to the country's poor farmers.
This document provides an overview of crop insurance initiatives in India. It discusses various crop insurance schemes introduced since the 1970s such as the Pilot Crop Insurance Scheme (PCIS), Comprehensive Crop Insurance Scheme (CCIS), National Agricultural Insurance Scheme (NAIS), Modified NAIS (MNAIS), Weather Based Crop Insurance Scheme (WBCIS) and Pradhan Mantri Fasal Bima Yojana (PMFBY). Key features of these schemes such as area approach, risk coverage, premium rates and subsidies are explained. Case studies demonstrating the benefits of insurance for farmers are also presented. The document emphasizes using technology like drones and satellites to improve crop insurance implementation and monitoring.
The document provides an analysis of the Indian government's budget allocations for Dalits and Tribals. It notes that the Tribal Sub Plan and Special Component Plan were established to allocate funds for Dalits and Tribals in proportion to their population. However, an examination of budgets shows that claims of increased allocations are misleading, and in reality funding suffers from the same discrimination faced by these communities. Key features of guidelines for these allocations are also outlined, including that funds should be non-lapsable, non-divertible, and spent only on programs directly benefiting these groups.
Agriculture production and farm incomes in India are frequently affected by natural disasters like flood, drought and earthquake etc.
Agricultural insurance is considered an important mechanism to effectively address the risk to output and income resulting from various natural and manmade events.
This document discusses managing risk in Philippine agriculture through insurance, credit guarantees, and microfinance. It provides details on the Philippine Crop Insurance Corporation which insures farmers against losses, and the Agricultural Guarantee Fund Pool which guarantees loans to small farmers. It also describes the Rural Household Business Financing program which provides financing for farm and off-farm livelihood projects to diversify farmer incomes and risks. Expansion of these programs is needed to better manage agricultural risks.
This document discusses crop insurance in India. It outlines several challenges facing Indian agriculture like small land holdings, soil exhaustion, drought vulnerability, and issues with minimum support prices. To address risk, the government offers various crop insurance options like yield index insurance and weather index insurance. India has had a publicly administered crop insurance scheme since 1972, but all variants introduced had flaws and incurred losses. The latest initiative is Pradhan Mantri Fasal Bima Yojna launched in 2016 to incorporate the best features of previous schemes and remove weaknesses in an effort to alleviate farmer distress.
The Rajasthan government has approved a 5% subsidy scheme on agricultural loans from Bhoomi Vikas Banks to help struggling farmers repay their loans due to issues like inadequate rainfall, crop failures, and the COVID-19 pandemic. The scheme provides a 5% subsidy on interest for farmers who repay their long-term loans on time. The deadline for the scheme was extended from March 31 to June 30, 2021 to provide benefits to more farmers. This decision aims to provide relief to farmers during the pandemic and allocate additional funds to farmer welfare. However, some farmers affected by low rainfall and hailstorms could not take advantage of the scheme due to pandemic issues.
This study examines the history of agricultural insurance schemes in India, including the challenges of implementing them. It discusses several schemes launched over time, from an initial individual farmer approach in the 1970s to the latest National Crop Insurance Program in 2013. Major issues with agricultural insurance in India include large insured areas, unreliable historical data, lack of awareness among non-loan farmers, and high premium rates.
This article describes the various challenges and opportunities in implementing Agriculture insurance in India. It also details the historical insurance programs and crop insurance schemes implemented by the Government of India in the past few decades.
Similar to Haryana govt launched crop insurance portal of.docx (20)
The PM-Kisan scheme provides eligible farmer families with financial support of Rs. 6,000 per year, distributed in three installments of Rs. 2,000 each. More than 10 lakh farmers will receive a total of Rs. 20,000 crore under the 12th installment of PM Kisan. To check your eligibility and status, you can visit the PM Kisan website and search by Aadhaar number or account number. The scheme defines eligible farmers as family farmer units with landholding of up to 2 hectares. Professionals such as doctors, engineers, lawyers and former/present government employees are not eligible for the scheme.
PM Antyodaya Anna Yojana (PMAAY) is a public distribution system scheme in India launched in 2023 that aims to ensure food security and eliminate hunger. It provides subsidized food grains, rice, wheat, and sugar to the poorest of the poor. Eligible beneficiaries include families with an annual income of Rs. 10,000 or less in rural and urban areas, including daily wage laborers, widows, the elderly, and the disabled. The identification of beneficiaries is carried out by state governments who prepare tentative lists at the village and urban local body levels for approval. Once approved, eligible families are issued special colored ration cards under the PMAAY scheme.
PM Antyodaya Anna Yojana (PMAAY) is a public distribution system scheme in India launched in 2023 that aims to ensure food security and eliminate hunger. It provides subsidized food grains, rice, wheat, and sugar to the poorest of the poor. Eligible beneficiaries include families with an annual income of Rs. 10,000 or less in rural and urban areas, including daily wage laborers, widows, the elderly, and the disabled. The identification of beneficiaries is carried out by state governments who prepare tentative lists at the village and urban local body levels for approval. Once approved, eligible families are issued special colored ration cards under the PMAAY scheme.
The Haryana Economic Survey Analysis 2022-23 document provides an overview of the state of Haryana's economy and budget for 2022-23. Some key highlights include:
- The Gross State Domestic Product for 2022-23 is projected to be Rs. 9,94,195 crore, an 11% growth over 2021-22.
- Revenue receipts for 2022-23 are estimated to be Rs. 1,07,192 crore, a 15% increase over 2021-22. Expenditure is estimated to be Rs. 1,42,204 crore, a 14% increase.
- The fiscal deficit is targeted at Rs. 35,012 crore or 3
The Gross State Domestic Product (GSDP) of Haryana for 2022-23 is projected to be Rs. 9,94,195 crore, a growth of 11% over the revised estimate for 2021-22. Total receipts for 2022-23 are estimated to be Rs. 1,07,192 crore, an increase of 15% over 2021-22. Total expenditure for 2022-23 is targeted at Rs. 1,42,204 crore, up 14% from 2021-22. The fiscal deficit for 2022-23 is targeted at Rs. 35,012 crore or 3.52% of the GSDP.
This document outlines an activity to compare measures of human development between more and less economically developed countries using the Human Development Index. The HDI is a summary measure that takes into account three dimensions: health as measured by life expectancy, education as measured by literacy and schooling, and income as measured by GDP per capita. Students are instructed to watch videos from the UNDP on the HDI and human development reports and answer questions about which countries have been most and least successful in achieving development and the indicators and obstacles involved.
Weather is defined as current meteorological conditions such as temperature, wind, and precipitation over a particular area and short time period. Weather conditions describe typical weather phenomena for a region over 1-2 weeks. Climate is the long term average weather conditions over at least 30 years for a specific location. Climate components that determine weather include radiation, air pressure, humidity, temperature, wind, evapotranspiration, precipitation, condensation, and cloud cover. Climate is influenced by both climate components and climate factors such as latitude, altitude, land/water patterns, relief, vegetation cover, and exposure. The characteristics and interactions between the different spheres that make up a watershed - atmosphere, hydrosphere, lithosphere, biosphere, and
The document summarizes the processes of evaporation and condensation. It explains that evaporation occurs when liquid water is transformed into water vapor due to heat. Condensation is the opposite process where water vapor condenses into liquid water due to cooling and loss of heat. The document lists several factors that affect the rates of evaporation and condensation such as temperature, humidity, wind speed, and composition of water. It also describes different forms of condensation including dew, frost, fog, mist, haze, smog, and clouds.
The document summarizes the processes of evaporation and condensation. It explains that evaporation occurs when liquid water is transformed into water vapor due to heat. Condensation is the opposite process where water vapor condenses into liquid water due to cooling and loss of heat. The document lists several factors that affect the rates of evaporation and condensation such as temperature, humidity, wind speed, and composition of water. It also describes different forms of condensation including dew, frost, fog, mist, haze, smog, and clouds.
Tropical cyclones that occur in different regions are known by different names. Hurricanes form in the Atlantic Ocean and Northeast Pacific, typhoons form in the Northwest Pacific, and cyclones form in the South Pacific and Indian Ocean. While they have different names depending on their location, they are all essentially the same type of rotating storm system developing over warm ocean waters. The key differences are in the areas they affect and their peak seasons, with hurricanes affecting the Caribbean and US east coast and typhoons affecting Southeast Asia, for example. They are classified using the same wind speed scales to indicate their intensity.
Rapid urbanization in Asia has increased populations in disaster-prone areas, raising vulnerability. Disaster mitigation measures like earthquake-resistant infrastructure have rarely been implemented in most Asian countries. The Asian Urban Disaster Mitigation Program demonstrated effective mitigation, and there is now significant demand for urban disaster risk management in the region and beyond.
An earthquake is caused by a sudden release of energy in the earth's crust that creates seismic waves. Earthquakes are primarily caused by the movement of tectonic plates deep underground. The location where the earthquake starts is called the hypocenter, and the point directly above on the surface is the epicenter. Earthquakes can cause significant damage through ground shaking, surface ruptures, landslides, liquefaction, tsunamis and fires. While earthquakes also lead to some benefits like forming natural springs and mineral resources, they typically have many negative effects such as damage to buildings and infrastructure, loss of lives, and economic impacts.
India is highly vulnerable to natural disasters due to its geography. Over 12% of India's land is prone to flooding, 68% is at risk of droughts or landslides, and 58.6% could experience earthquakes. Recent heavy rains in Chennai highlight the risks cities face from extreme weather. Most cities lack adequate infrastructure like drainage to handle disasters, with only a small percentage having official master plans. Unregulated development has reduced green spaces and invaded natural areas. Better urban planning is needed that incorporates climate resilience, as is greater coordination between local, state, and national disaster management authorities to mitigate disaster impacts. Without making cities more sustainable, the economic growth fueled by urbanization will be threatened by increased natural disasters.
The document provides information on climate change, including what it is, how it is measured, its causes, and its effects. It defines climate change as a significant variation in weather conditions over decades, differentiating it from normal weather variability. It describes how climate change is caused by both natural factors and human activities like burning fossil fuels, with human factors being the dominant cause of current warming. The effects of climate change include more extreme weather, rising sea levels, health impacts, and threatened ecosystems. Solutions discussed include the Paris Agreement and developing clean energy technologies.
The document discusses gender inequality and the gender budget in India. It notes that women face social, economic, and health inequalities in India. The 2022 gender budget allocation increased 11.5% but declined as a percentage of total expenditure. While the budget aims to address women's challenges, it fails to prioritize critical issues exacerbated by the pandemic like lack of women-centered job opportunities and support for women-led MSMEs. The gender budget remains below 5% of total expenditure and 1% of GDP. Increased allocation is concentrated in a few schemes rather than mainstreaming gender across sectors.
The document outlines 10 key women empowerment schemes in India:
1) Beti Bachao Beti Padhao Scheme ensures survival, protection and education of girl children.
2) Working Women Hostel Scheme provides safe accommodation and daycare facilities for working women and their children.
3) One Stop Centre Scheme facilitates emergency and legal services for women affected by violence under one roof.
4) Women Helpline Scheme provides 24/7 emergency support to women affected by violence via toll-free helpline.
5) Mahila E-Haat provides an online platform for women entrepreneurs to sell their products.
6) Mahila Police Volunteers scheme aims to create a safe environment and encourage women to join the police
The document outlines India's National Policy for the Empowerment of Women from 2001. It discusses the constitutional basis for gender equality and the advancement of women. However, it notes that while goals have been established, a gap remains between these goals and the actual status of women. The policy's goal is to advance, develop, and empower women through creating an enabling environment, ensuring enjoyment of rights and access to opportunities, and changing attitudes. It prescribes legal and economic reforms and mainstreaming gender in development to achieve these aims.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
1. Haryana govt launched crop insurance portal of ‘Mukhya Mantri
Bagwani Bima Yojana’:-
Posted by bhawna bhardwaj:-
The Haryana Agriculture Minister J P Dalal launched the portal of
‘Mukha Mantri Bagwani Bima Yojana’ with an initial corpus of Rs 10
crore for the scheme. Under this the farmers will be compensated
for the damage caused to their crops due to adverse weather and
natural calamities.
The Haryana Agriculture Minister J P Dalal launched the portal of Mukha
Mantri Bagwani Bima Yojana’ with an initial corpus of Rs 10 crore for the
scheme. Under this the farmers will be compensated for the damage caused
to their crops due to adverse weather and natural calamities.
Haryana Governor: Bandaru Dattatreya;
Haryana Capital: Chandigarh;
Haryana Chief Minister: Manohar Lal Khattar
About the scheme:
The scheme compensates a sum of Rs 30,000 per acre for vegetables and
Spices and Rs 40,000 per acre for fruits, which will be compensated to the
farmers upon claim via four categories such as 25 per cent, 50 per cent, 75
per cent and 100 per cent based on the survey.
The farmer’s contribution will be only 5 per cent of the insured amount i.e., Rs
750 per acre for vegetables and Spices and Rs 1000 per acre for fruits.
The Scheme covers 21 crops – 14 vegetables, 2 spices, and 5 fruits. The
scheme will be optional for all those farmers who will get registered under
‘Meri Fasal Mera Byora’ (a web portal through which the problems of the
farmers of the state will be resolved).
.
2. Pradhan Mantri Fasal Bima Yojana :-The Pradhan
Mantri Fasal Bima Yojana (PMFBY) was introduced by
the Indian government on February 18, 2016. The
Ministry of Agriculture and Farmers Welfare Department
is in charge of implementing the scheme. NAIS and
MNAIS, the previous crop insurance schemes, have
been replaced with this one. Farmers can be covered
under the scheme if they suffer financial losses as a
result of unforeseeable incidents. Crop loss owing to
local hazards, post-harvest financial loss, loss due to
natural catastrophes, unseasonal rains, pests, crop
diseases, and more are all covered by the policy.
Highlights of Pradhan Mantri Fasal Bima Yojana
Scheme Name Pradhan Mantri Fasal Bima Yojana
Department Ministry of Agriculture and Farmers Welfare
Introduced by PM Shri Narendra Modi
Introduced On 18th Feb 2016
beneficiary Farmers of India
Location All over India
Objective To empower the country’s farmers
Last Date of Online Application
Kharif- 31st July
Rabi- 31st December
3. Insurance amount up to ₹ 200000
Scheme Type Central Government Scheme
Official website https://pmfby.gov.in
Objectives of Pradhan Mantri Fasal Bima
Yojana
The Pradhan Mantri Fasal Bima Yojana is an attempt to increase crop sustainability.
It provides assistance to farmers that have experienced catastrophic crop loss as a
result of natural disasters such as heavy rainfall, flooding, droughts, floods, cyclones,
natural fires, and so on. Crop insurance, according to the plan, is supposed to help
such people stabilize and recoup from their losses. The following are some of the
primary goals of the Pradhan Mantri Fasal Bima Yojana: –
The scheme provides financial assistance to farmers who have suffered severe crop
losses due to natural catastrophes, pest,s and disease attacks.
Farmers are encourae to continue farming through PMFBY.
The farmers should encourage to use new and modern farming practices
Farmers need a steady income to support their families and their farming operations.
PMFBY gives farmers the opportunity to secure financial stability.
The goal of this Crop Insurance Scheme is to keep credit flowing in the sector.
To protect farmers against production risks
Provide low-cost crop insurance.
The plan is exempt from the Goods and Services Tax
Food security will ensure
PM Kisan Samman Nidhi Yojana List
Premium Amount for Rabi Season 2021 22
Name of crop Amount of premium per hectare
Wheat Rs 11000.90
Mustard Rs 681.09
4. Barley Rs 661.62
Sunflower Rs 661.62
Chana Rs 505.95
Assured Sum per Hectare
Name of the crop Sum Assured per hectare
Wheat Rs 67460
Mustard Rs 45405
Barley Rs 44108
Sunflower Rs 44108
Chana Rs 33730
Features and Benefits of Pradhan Mantri Fasal Bima Yojana
Some of the key features and benefits of the Pradhan Mantri Fasal Bima Yojana
2022 are as follows:
All farmers pay the same premium cost for PMFBY
the farmer’s part of the premium is quite little. The remaining is cover by the
government. Farmers will be able to obtain comprehensive coverage at a lower
premium price as a result of this.
Farmers’ premium contributions drastically reduce by 2% for Kharif crops, 1.5
percent for Rabi crops, and 5% for Annual and Commercial crops.
Technology utilizes to capture and upload details on product loss/damage,
decreasing claim settlement delays.
A single insurance company is in charge of enrolling beneficiaries, raising awareness
of the plan, and processing claims.
5. Farmers can get on-account claim payments if their crop suffers local losses under
the scheme.
Assessment of yield loss on a plot-by-plot basis in the event of a cyclone, cyclonic
rains, or unseasonal rainfall across the country, resulting in damage to harvested
crop laying in the field in ‘cut and spread’ condition for up to two weeks (14 days)
after harvesting for the express purpose of drying.
Crop loss evaluates on an individual plot basis in the event of harsh climatic
conditions and unseasonal precipitation.
This strategy will stimulate the usage of technology to a large extent. To eliminate
claim payment delays to farmers, smartphones will use to gather and submit crop-
cutting data. This approach will also employ remote sensing to reduce the number of
crop-cutting experiments.
Pradhan Mantri Fasal Bima Yojana 2022
Number of Farmers 93,28,259
Total Applications 1,90,65,427
Loanee Applications 1,16,28,309
Non-Loanee Applications 74,37,118
Insured Sum 768.24 Cr
Total Premium 9894.97 Cr
Eligibility Criteria
Applicants who want to apply for the scheme must fulfill the eligibility criteria put
forward by the Ministry of Agriculture and Farmers Welfare Department. The
eligibility criteria for Pradhan Mantri Fasal Bima Yojana 2022 are as follows:
Enrollment is open to farmers, sharecroppers, and tenant farmers for producing
recognized crops in the specified areas.
Farmers that are eligible must have an insurable stake in the recognized produce.
Non-loanee farmers must present the state’s land records, such as the Record of
Right (ROR), land possession certificate (LPC), and so on. They can also offer
support contracts, details of agreements, or other documentation issued by the state
government.
6. Pradhan Mantri Fasal Bima Yojana Coverage
The coverage of the Pradhan Mantri Fasal Bima Yojana is shown in the table below.
Sum Insured
of PMFBY
The scheme’s insurance coverage is equal to the sum insured set by the Indian
government.
Compulsory
Coverage
Farmers who have been approved by financial institutions for Seasonal Agricultural
Operations (SAO) loans for notified crops. Insurance applications are accepted until
the State Level Coordination Committee on Crop Insurance sets a cut-off date
(SLCCCI). Any changes to the crop plan should be communicated to the bank at
least two weeks prior to the deadline.
Voluntary
Coverage
For loanee farmers, the program is optional.
Risk Covered
Aside from crop losses, the system also includes the Risk of prevented sowing,
planting, and germination: The insured area is prevented from sowing, planting,
and germination due to unfavorable meteorological conditions or unseasonal
rainfall. Post-harvest loss: If there is any loss to the product after it has been
harvested for up to two weeks, the policy will cover it.Loss of standing crops (from
sowing to harvesting): The plan covers unforeseeable events that result in yield
loss. Loss/damage to the product as a result of localized hazards such as hailstorms,
landslides, cloud bursts, and animal assaults is also covered.
India is the land of farmers where the maximum proportion of rural population depends on
7. agriculture. Hon'ble Prime Minister Shri Narendra Modi unveiled the new scheme Pradhan Mantri
Fasal Bima Yojana (PMFBY) on 13th January, 2016
This scheme will help in decreasing the burden of premiums on farmers who take loans for their
cultivation and will also safeguard them against the inclement weather.
It has also been decided to make the settlement process of the insurance claim, fast and easy so that
the farmers do not face any trouble regarding the crop insurance plan. This scheme will be
implemented in every state of India, in association with respective State Governments. The scheme
will be administered under the Ministry of Agriculture and Farmers Welfare, Government of India
OBJECTIVE:- 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.
- Stabilize 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
Name of the scheme
Pradhan Mantri Fasal Bima Yojana / PMFBY / Crop
Insurance Scheme
Official date of launch January 2016
Announced by PM Narendra Modi
Target beneficiaries Agricultural labors or farmers
Responsibility of
supervision
Agriculture, Cooperation & Farmers Welfare Department
Features of the PMFBY
1. Previous schemes were only allowed some specific farmers to enroll under it.
Some were for big farmers while others were for smaller agricultural
8. producers. With the implementation of this project, we got an insurance
scheme that allowed farmers from all categories to enroll and get benefits.
2. private crop insurance policies are very costly and not possible for farmers to
pay such heavy premiums. With PMFBY, it has fixed the premium at only 2%
for Kharif and 1.5% for Rabi crops.
3. When farmer needs to claim the insurance money, central government will
transfer the amount into the bank account that is in the name of the farmer.
4. Farmers will end up paying only a smaller fraction of the insurance premium.
rest of amount has been taken care by central government. But each policy
holder will receive full coverage against crop damage.
Pradhan Mantri Fasal Bima Yojana PREMIUM RATES:
1. Kharif Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) : 2.0%
of SI or Actuarial rate, whichever is less
2. Rabi Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) 1.5% of SI
or Actuarial rate, whichever is less
3. Kharif & Rabi Annual Commercial / Annual Horticultural crops 5% of SI or
Actuarial rate, whichever is less
Eligibility criteria for the scheme
1. Under this insurance coverage scheme, no farmer needs to worry about any
classification. Big, small, as well as marginal agricultural workers will be
allowed to get the benefits of this project.
2. PMFBY will allow both landholding as well as landless farmers to get the
coverage benefits. Landless farmers mean those who produce crops on
another person’s land.
3. There are several agricultural workers who have not taken any loan from any
bank or the government, for agricultural needs. These individuals are termed
as non-loanee farmers. In case any such farmers desire to get the benefits of
this project, they need to publish land documents.
Haryana govt launched crop insurance portal of ‘Mukhya Mantri
Bagwani Bima Yojana’:-
Posted by bhawna bhardwaj:-
The Haryana Agriculture Minister J P Dalal launched the portal of
‘Mukha Mantri Bagwani Bima Yojana’ with an initial corpus of Rs 10
crore for the scheme. Under this the farmers will be compensated
for the damage caused to their crops due to adverse weather and
natural calamities.
9. The Haryana Agriculture Minister J P Dalal launched the portal of Mukha
Mantri Bagwani Bima Yojana’ with an initial corpus of Rs 10 crore for the
scheme. Under this the farmers will be compensated for the damage caused
to their crops due to adverse weather and natural calamities.
Haryana Governor: Bandaru Dattatreya;
Haryana Capital: Chandigarh;
Haryana Chief Minister: Manohar Lal Khattar
About the scheme:
The scheme compensates a sum of Rs 30,000 per acre for vegetables and
Spices and Rs 40,000 per acre for fruits, which will be compensated to the
farmers upon claim via four categories such as 25 per cent, 50 per cent, 75
per cent and 100 per cent based on the survey.
The farmer’s contribution will be only 5 per cent of the insured amount i.e., Rs
750 per acre for vegetables and Spices and Rs 1000 per acre for fruits.
The Scheme covers 21 crops – 14 vegetables, 2 spices, and 5 fruits. The
scheme will be optional for all those farmers who will get registered under
‘Meri Fasal Mera Byora’ (a web portal through which the problems of the
farmers of the state will be resolved).
.
Pradhan Mantri Fasal Bima Yojana :-The Pradhan
Mantri Fasal Bima Yojana (PMFBY) was introduced by
the Indian government on February 18, 2016. The
Ministry of Agriculture and Farmers Welfare Department
is in charge of implementing the scheme. NAIS and
MNAIS, the previous crop insurance schemes, have
been replaced with this one. Farmers can be covered
under the scheme if they suffer financial losses as a
result of unforeseeable incidents. Crop loss owing to
local hazards, post-harvest financial loss, loss due to
10. natural catastrophes, unseasonal rains, pests, crop
diseases, and more are all covered by the policy.
Highlights of Pradhan Mantri Fasal Bima Yojana
Scheme Name Pradhan Mantri Fasal Bima Yojana
Department Ministry of Agriculture and Farmers Welfare
Introduced by PM Shri Narendra Modi
Introduced On 18th Feb 2016
beneficiary Farmers of India
Location All over India
Objective To empower the country’s farmers
Last Date of Online Application
Kharif- 31st July
Rabi- 31st December
Insurance amount up to ₹ 200000
Scheme Type Central Government Scheme
Official website https://pmfby.gov.in
Objectives of Pradhan Mantri Fasal Bima
Yojana
11. The Pradhan Mantri Fasal Bima Yojana is an attempt to increase crop sustainability.
It provides assistance to farmers that have experienced catastrophic crop loss as a
result of natural disasters such as heavy rainfall, flooding, droughts, floods, cyclones,
natural fires, and so on. Crop insurance, according to the plan, is supposed to help
such people stabilize and recoup from their losses. The following are some of the
primary goals of the Pradhan Mantri Fasal Bima Yojana: –
The scheme provides financial assistance to farmers who have suffered severe crop
losses due to natural catastrophes, pest,s and disease attacks.
Farmers are encourae to continue farming through PMFBY.
The farmers should encourage to use new and modern farming practices
Farmers need a steady income to support their families and their farming operations.
PMFBY gives farmers the opportunity to secure financial stability.
The goal of this Crop Insurance Scheme is to keep credit flowing in the sector.
To protect farmers against production risks
Provide low-cost crop insurance.
The plan is exempt from the Goods and Services Tax
Food security will ensure
PM Kisan Samman Nidhi Yojana List
Premium Amount for Rabi Season 2021 22
Name of crop Amount of premium per hectare
Wheat Rs 11000.90
Mustard Rs 681.09
Barley Rs 661.62
Sunflower Rs 661.62
Chana Rs 505.95
Assured Sum per Hectare
12. Name of the crop Sum Assured per hectare
Wheat Rs 67460
Mustard Rs 45405
Barley Rs 44108
Sunflower Rs 44108
Chana Rs 33730
Features and Benefits of Pradhan Mantri Fasal Bima Yojana
Some of the key features and benefits of the Pradhan Mantri Fasal Bima Yojana
2022 are as follows:
All farmers pay the same premium cost for PMFBY
the farmer’s part of the premium is quite little. The remaining is cover by the
government. Farmers will be able to obtain comprehensive coverage at a lower
premium price as a result of this.
Farmers’ premium contributions drastically reduce by 2% for Kharif crops, 1.5
percent for Rabi crops, and 5% for Annual and Commercial crops.
Technology utilizes to capture and upload details on product loss/damage,
decreasing claim settlement delays.
A single insurance company is in charge of enrolling beneficiaries, raising awareness
of the plan, and processing claims.
Farmers can get on-account claim payments if their crop suffers local losses under
the scheme.
Assessment of yield loss on a plot-by-plot basis in the event of a cyclone, cyclonic
rains, or unseasonal rainfall across the country, resulting in damage to harvested
crop laying in the field in ‘cut and spread’ condition for up to two weeks (14 days)
after harvesting for the express purpose of drying.
Crop loss evaluates on an individual plot basis in the event of harsh climatic
conditions and unseasonal precipitation.
This strategy will stimulate the usage of technology to a large extent. To eliminate
claim payment delays to farmers, smartphones will use to gather and submit crop-
cutting data. This approach will also employ remote sensing to reduce the number of
crop-cutting experiments.
13. Pradhan Mantri Fasal Bima Yojana 2022
Number of Farmers 93,28,259
Total Applications 1,90,65,427
Loanee Applications 1,16,28,309
Non-Loanee Applications 74,37,118
Insured Sum 768.24 Cr
Total Premium 9894.97 Cr
Eligibility Criteria
Applicants who want to apply for the scheme must fulfill the eligibility criteria put
forward by the Ministry of Agriculture and Farmers Welfare Department. The
eligibility criteria for Pradhan Mantri Fasal Bima Yojana 2022 are as follows:
Enrollment is open to farmers, sharecroppers, and tenant farmers for producing
recognized crops in the specified areas.
Farmers that are eligible must have an insurable stake in the recognized produce.
Non-loanee farmers must present the state’s land records, such as the Record of
Right (ROR), land possession certificate (LPC), and so on. They can also offer
support contracts, details of agreements, or other documentation issued by the state
government.
Pradhan Mantri Fasal Bima Yojana Coverage
The coverage of the Pradhan Mantri Fasal Bima Yojana is shown in the table below.
Sum Insured
of PMFBY
The scheme’s insurance coverage is equal to the sum insured set by the Indian
government.
Compulsory
Coverage
Farmers who have been approved by financial institutions for Seasonal Agricultural
Operations (SAO) loans for notified crops. Insurance applications are accepted until
the State Level Coordination Committee on Crop Insurance sets a cut-off date
(SLCCCI). Any changes to the crop plan should be communicated to the bank at
14. least two weeks prior to the deadline.
Voluntary
Coverage
For loanee farmers, the program is optional.
Risk Covered
Aside from crop losses, the system also includes the Risk of prevented sowing,
planting, and germination: The insured area is prevented from sowing, planting,
and germination due to unfavorable meteorological conditions or unseasonal
rainfall. Post-harvest loss: If there is any loss to the product after it has been
harvested for up to two weeks, the policy will cover it.Loss of standing crops (from
sowing to harvesting): The plan covers unforeseeable events that result in yield
loss. Loss/damage to the product as a result of localized hazards such as hailstorms,
landslides, cloud bursts, and animal assaults is also covered.
India is the land of farmers where the maximum proportion of rural population depends on
agriculture. Hon'ble Prime Minister Shri Narendra Modi unveiled the new scheme Pradhan Mantri
Fasal Bima Yojana (PMFBY) on 13th January, 2016
This scheme will help in decreasing the burden of premiums on farmers who take loans for their
cultivation and will also safeguard them against the inclement weather.
It has also been decided to make the settlement process of the insurance claim, fast and easy so that
the farmers do not face any trouble regarding the crop insurance plan. This scheme will be
implemented in every state of India, in association with respective State Governments. The scheme
will be administered under the Ministry of Agriculture and Farmers Welfare, Government of India
OBJECTIVE:- 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.
15. - Stabilize 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
Name of the scheme
Pradhan Mantri Fasal Bima Yojana / PMFBY / Crop
Insurance Scheme
Official date of launch January 2016
Announced by PM Narendra Modi
Target beneficiaries Agricultural labors or farmers
Responsibility of
supervision
Agriculture, Cooperation & Farmers Welfare Department
Features of the PMFBY
5. Previous schemes were only allowed some specific farmers to enroll under it.
Some were for big farmers while others were for smaller agricultural
producers. With the implementation of this project, we got an insurance
scheme that allowed farmers from all categories to enroll and get benefits.
6. private crop insurance policies are very costly and not possible for farmers to
pay such heavy premiums. With PMFBY, it has fixed the premium at only 2%
for Kharif and 1.5% for Rabi crops.
7. When farmer needs to claim the insurance money, central government will
transfer the amount into the bank account that is in the name of the farmer.
8. Farmers will end up paying only a smaller fraction of the insurance premium.
rest of amount has been taken care by central government. But each policy
holder will receive full coverage against crop damage.
Pradhan Mantri Fasal Bima Yojana PREMIUM RATES:
1. Kharif Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) : 2.0%
of SI or Actuarial rate, whichever is less
16. 2. Rabi Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) 1.5% of SI
or Actuarial rate, whichever is less
3. Kharif & Rabi Annual Commercial / Annual Horticultural crops 5% of SI or
Actuarial rate, whichever is less
Eligibility criteria for the scheme
4. Under this insurance coverage scheme, no farmer needs to worry about any
classification. Big, small, as well as marginal agricultural workers will be
allowed to get the benefits of this project.
5. PMFBY will allow both landholding as well as landless farmers to get the
coverage benefits. Landless farmers mean those who produce crops on
another person’s land.
6. There are several agricultural workers who have not taken any loan from any
bank or the government, for agricultural needs. These individuals are termed
as non-loanee farmers. In case any such farmers desire to get the benefits of
this project, they need to publish land documents.
Documents Required for registration under PMFBY
1. Land registration papers – Only those farmers will be able to fill in the
application to get the benefits of this insurance scheme that have access to all
registration papers of the farmland. It applies for land owners as well as
rented farmers. They need to have the land patta number.
2. Ownership papers of farmland – In case the farmer is the real owner of the
farmland, then he needs to attach copies of those legal documents, which
highlight that the land is registered in his name.
3. Aadhar card – Attaching a copy of the Aadhar card is a must for all farmers.
It will be used for background checks by the authority.
4. Personal identification proof of registering farmer – The PAN card, voter
card and ration card photocopies of each farmer must be attached with the
application form. All personal identification details are a must for application.
5. Details of official bank account – As the insurance money will be offered via
the bank, the farmers need access to active bank accounts. Details like bank
and branch name, account code, back code and address are a must for
proper money transfer.
6. Sowing information – In case any unfortunate incident takes place;
government will need sowing details for compensating the loss. It will highlight
the actual investment on the part of the agricultural labor, and the amount he
has lost due to the losses. The papers which offer these details are termed as
sowing declarations.
7. Application form – Last but not the least; all applicants need to collect the
application forms from respective central or state government offices. The
form has to be filled in carefully. In case it has any wrong info, it will be
rejected by the scrutiny department.
From where can one obtain online registration form?
17. Any farmer who wants to safeguard their crops and investment against damage can
go online to register under PMFBY. The digitized application form can be accessed
by landing on the official homepage, by clicking on the link http://pmfby.gov.in/. If one
wants to bypass the primary steps, and get to the form directly, then he must click on
the link http://pmfby.gov.in/farmerRegistrationForm.
How to apply for Pradhan Mantri Fasal Bima
Yojana online?
1. Some changes have been made in the online application process. Any
applicant who desires to enroll under this crop insurance scheme will have to
click on the official link, i.e. http://pmfby.gov.in/.
2. There are six separate tablets on the homepage. In case a farmer desires to
apply for the first time, he will have to take the mouse pointer on the table
marked as “Farmer Corner – Apply for Crop Insurance by Yourself.”
3. As soon as one clicks on this link, a smaller box will emerge on the screen
that has two separate options. One is “Login for Farmer” and the other is
“Guest Farmer.”
4. Farmers who have already applied can access other options by logging in
with their credentials at “Login for Farmer”.
5. For a fresh application, one has to click on the option “Guest Farmer.”
6. It will trigger the site to bring up the official registration form on the computer
screen. It is the revamped application form for 2018.
7. You have to fill the form with appropriate data. Any error will result in the
cancellation of this application.
8. Once the details have filled in, the applicant needs to type in the captcha code
in the box, and click on the green button that is marked as “Create User.”
9. After getting confirmation on registered mobile number, applicants must log in
with their credentials for filling in other details. Only then the entire registration
process will be complete.
How to register any grievance Complaint for
PMFBY?
The website has a unique feature that allows farmers to highlight any complaints or
grievances as well. It will allow the department to understand if farmers are having
any issues during enrollment, crop loss report submission, claim status check and
any general doubt clarification. It will help the government to serves these farmers
better.
1. In case an applicant wants to register any complaint, then he has to click on
the official web link, http://pmfby.gov.in/.
2. Then he has to bring the mouse pointer on the 5th
option tablet from the left.
3. As soon as one clicks on this link, it will open a new page that will highlight the
“Complaint/Grievance” box.
18. 4. Four fields are visible in this box, which is “Name,” “Mobile Number,” “Email”
and “Comments.”
5. The farmer needs to type in his name, registered mobile number, and email
ID. Then he has to type in and describe his doubt, issue or complaint.
6. Once it has been done, it is time to register to the complaint by typing in
captcha code in the box marked as “Enter Captcha Code” and clicking on the
yellow “Submit” button.
Role of banks and insurance agencies
It is not possible for the central or the state government to take care of all
transactions alone. Thus, it has been decided that a handful of financial institutes
and insurance companies will be selected by central government. These banks and
insurance companies will work in unison to work out every nitty-gritty of this scheme.
The insurance companies will check the truth behind the claim, while compensation
transfer will be handled by the selected banks. Regional Rural Banks, Cooperative
Banks, and commercial banks will do the task. Some private insurance companies
will be offered the responsibility to check the claim settlement procedure. Their
presence will keep third-party agencies at bay.
Types of coverage components
As mentioned, no discrimination will be done when sorting the application of farmers,
under any category. To ensue most farmers receive the perks of this insurance
scheme, central government will keep additional reservation for those agricultural
workers who fall in schedule caste, schedule tribe and OBC groups. Other than this,
there are two additional categories – compulsory and voluntary.
Compulsory component – It is associated with the SAO credit. When any farmer
applies for credit from banks or other organizations, and utilizes it for reaping a
seasonal harvest, then it is termed as SAO loan. All farm workers, which have
attained this credit, will be categorized under compulsory component. They will not
get entry under PMFBY.
Voluntary component – In case a farm worker has not taken any such loan for crop
harvest, then he will automatically fall under the voluntary category. All these farmers
can register and get all benefits that PMFBY offers.
Crops identified by the government
For the time being, only a handful crops have been identified by central government.
Keeping the soli, climate and farming practices, the national government has taken
this decision. All farmers, who grow rice, wheat, pulses, millets, castor, groundnut,
linseed, cashew nut, guava, banana, and mangoes, will be able to apply for this crop
insurance scheme. This list will make sure that farmers from all parts of the nation
will be able to safeguard their crops as per the guidelines of this scheme. With time,
19. more food and commercial crops will be added to this list by the central government.
After all, the main objective of this scheme is to offer financial security against any
accidents.
Risks covered under Pradhan Mantri Fasal
Bima Yojana scheme
The PMFBY offers protection to all farmers. But that does not mean that it will offer
coverage against all incidents. The following are some coverage related details that
all farmers must know about before applying for this insurance scheme:
A. Loss due to prevented sowing – Framers will not be able to get satisfactory
returns if they fail to sow the seeds in the insured farmland. In case this delay
has been due to natural causes like lack of precipitation, then the agricultural
labor can attain compensation from the government.
B. Damage to standing crop – A standing time of any crop starts right after the
sowing of seeds till before the crop harvesting season. In case the standing
crop suffers from any damage, due to natural causes, then farmers will get
paid under PMFBY.
C. Post yield damages – Before the product is taken to the market for sale, it
needs some time for post-harvesting procedures. During this time, farmers
need to store the crop in a safe place. In case this crop has damaged, farmers
can opt for the insurance claims. But you can put claim before completion of
two weeks, from the date of harvest.
D. Localized incidents – Localized natural calamities are common in many
parts of India. Storms might damage the harvest in one part of the state, while
others, located on the opposite side remain unaffected.
Risks not covered under the scheme
In the PMFBY scheme that government has to pay for damages only in case of
natural calamities. If crops are destroyed by manmade causes, like nuclear disaster,
wars, or radiation fallouts, then farmers will not receive any insurance coverage. If
man-made fire chars the crops, or they are eaten by locusts or other animals, then
that too will be the responsibility of the farmer. Any cause, other than natural events
will not be considered under this insurance scheme.
How to calculate premium?
1. For the ease of farmers, there is a unique option that will allow the applicants
to calculate the premium amount. For this, one has to click on the official link
of the yojana, gov.in.
2. Once the home page opens, the applicant has to click on the option tablet that
has been marked as “Insurance Premium Calculator – Know Your Insurance
Premium Before”
20. 3. A new page will open that will allow the person to calculate the premium
amount for the insurance scheme.
4. The applicant has to enter about crop details like the Fasal name, year related
date under the “Year” filed, pick the scheme name under the “Scheme” filed,
and also fill in “State,” “District,” and “Crop” fields with proper date.
5. To get the final premium amount, applicants need to click on the yellow button
6. After clicking on the button, the site to do the necessary calculations. it will
highlight the amount on the screen. Thus, the applicant will get an idea about
the total premium that he has to pay in order to safeguard his investment and
crops from any damage, caused due to natural reasons.
Pradhan Mantri Fasal Bima Yojana Android
App
Along with the new and improved website, the agro department has also launched a
mobile application for this scheme. For the design and launch of this app, the central
agriculture department took help from the Information Technology department. The
“Crop Insurance App” is only for any android smartphone. Any person can download
this application from Google PlayStore for no extra payment. Just initiate a search on
Google PlayStore with the name of this app, and then download it easily. The
application can download from the link http://www.agri-
insurance.gov.in/Document/CCE_Agri_121_27-03-2017.apk. All features, which you
get on the website, are also available on this smartphone application. It will make
things easy for farmers.
Budget allocation for this scheme
It is an ambitious project, undertaken by the Modi government. During the official
budget speech of 2016 -2017, FM Arun Jaitley made it clear that it will put huge
pressure on the national treasury. During this speech, he said that allocations of Rs.
550 crore for proper implementation of this scheme. During the 2017 budget
announcement, 40% extra allocation towards this project that took the total cost to
Rs. 9000 crores. By the end of this year, the central government aims at
incorporating 50% cultivable land under this project.
Pradhan Mantri Fasal Bima Yojana Contact
details and helpline numbers
In case any farmer desires to attain any information related to this scheme, then he
can dial the number 011-23382012, followed by an extension 2715 / 2709 to talk to
customer care executives. Any other doubt can clear on to the link help.agri-
insurance@gov.in. You can also visit the official website of PMFBY.
Farmers have been using this unique scheme to reduce their crop losses. Poor
farmers stake everything they have on the crop yield. They choose to take their lives
21. by committing suicide. But schemes like these have succeeded in lowering the
farmer suicide percentage in the nation. The new site is still under development, and
central government will notify applicants as and when any updates take place.
.
Highlight of the scheme
There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all
Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid will be only
5%.
The premium rates to be paid by farmers are very low and balance premium will be paid by the
Government to provide full insured amount to the farmers against crop loss in any natural
calamities.
There is no upper limit on Government subsidy. Even if balance premium is 90%, it will be borne by
the Government.
Earlier, there was a provision of capping the premium rate which is low claims being paid to farmers.
Now this is removed and farmers will get claim against full sum insured without any reduction.
The use of technology will be encouraged to a great extent. Smart phones, Remote sensing drone
and GPS technologies will be used to capture and upload data of crop cutting to reduce the delays in
the claim payment.
Allocation of the scheme presented in budget 2016-2017 is Rs.5, 550 cores.
The insurance plan will be handled under a single insurance company, Agriculture Insurance
Company of India (AIC).
22. PMFBY is a replacement scheme of National Agriculture Insurance Scheme (NAIS) and Modified
National Agriculture Insurance Scheme (MNAIS) and hence exempted from the service tax.
Objectives of the scheme
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 stabiles the income of farmers to ensure their continuous process in farming.
To encourage farmers to adopt innovative and modern agricultural practices.
To ensure flow of credit to the agriculture sector.
Coverage of the farmers
All farmers including sharecroppers and tenant farmers growing the notified crops in the notified
areas are eligible for coverage. The non-loanee farmers are required to submit necessary
documentary evidence of land records prevailing in the State Records of Right (RoR), Land
possession Certificate (LPC) etc. moreover, applicable contract, agreement details, other documents
notified permitted by concerned State Government.
Compulsory Component All farmers availing Seasonal Agricultural Operations (SAO) loans from
Financial Institutions (i.e. loanee farmers) for the notified crops would be covered compulsorily.
Voluntary Component The Scheme would be optional for the non-loanee farmers.
Special efforts shall be made to ensure maximum coverage of SC/ ST/ Women farmers under the
scheme. Budget allocation and utilization under this should be in proportion of land holding of SC/
ST/ General along with Women in the respective state cluster. Panchayat Raj Institutions (PRIs) may
be involved for the implementation and also obtaining framers feedbacks on these crop insurance
schemes.
Coverage of the crops
Food crops (Cereals, Millets and Pulses)
Oilseeds
Annual Commercial / Annual Horticultural crops
Coverage of the Risk
Following stages of the crop and risks leading to crop loss are covered under the Scheme.
Prevented Sowing/ Planting Risk: Insured area is prevented from sowing planting due to deficit
rainfall or adverse seasonal Conditions.
23. Standing Crop (Sowing to Harvesting): Comprehensive risk insurance is provided to cover yield losses
due to non- preventable risks, viz. Drought, Dry spells, Flood, Inundation, Pests and Diseases,
Landslides, Natural Fire and Lightening, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane
and Tornado.
Post-Harvest Losses: coverage is available only up to a maximum period of two weeks from
harvesting for those crops which are allowed to dry in cut and spread condition in the field after
harvesting against specific perils of cyclone and cyclonic rains and unseasonal rains.
Localized Calamities: Loss/ damage resulting from occurrence of identified localized risks of
hailstorm, landslide, and Inundation affecting isolated farms in the notified area.
Exclusion of the Risk
The insurance cover will not be applicable in the damage of crops due to any of the following
reasons.
War & kindred perils
Nuclear risks
Riots
Malicious damage
Theft or act of enmity
Grazed and/or destroyed by domestic and/or wild animals and other preventable risks shall be
excluded.
Sum Insured/Limits of Coverage
In case of Loanee farmers under Compulsory Component, the Sum Insured would be equal to Scale
of Finance for that crop as fixed by District Level Technical Committee (DLTC) which may extend up
to the value of the Threshold Yield of the insured crop at the option of insured farmer. The value of
the threshold yield is lower than the Scale of Finance; higher amount shall be the Sum Insured.
Multiplying the National Threshold Yield with the Minimum Support Price (MSP) of the current year
arrives at the value of sum insured. Wherever, Current year's MSP is not available, so previous years
MSP shall be adopted.
The crops for which, MSP is not declared, farm gate price established by the marketing department,
board shall be adopted.
Unit of Insurance
24. The Scheme shall be implemented on an 'Area Approach Basis' (i.e., Defined Areas) for each notified
crop for widespread calamities. The assumption that all the insured farmers, in a Unit of Insurance,
should be defined as "Notified Area" for a crop, face similar risk exposures, incur to a large extent,
identical cost of production per hectare, earn comparable farm income per hectare, and experience
similar extent of crop loss due to the operation of an insured peril, in the notified area. The Unit of
Insurance can be demographically mapped with region having homogenous Risk Profile for the
notified crop.
For Risks of Localized calamities and Post-Harvest losses on account of defined peril, the Unit of
Insurance for loss assessment shall be the affected insured field of the individual farmer.
Implementing Agency
The overall control on implementation of insurance companies will be under Ministry of Agriculture
& Framers Welfare. The Ministry designated empanelled AIC and some private insurance companies
presently to participate in the Government sponsored agriculture, crop insurance schemes. The
choice of which private company is left to the states. There will be one insurance company for the
whole state.
Selection of Implementing Agency may be made for up to three years however, the State
government/ UT and the concerned insurance company are free to renegotiate the terms if relevant.
This will facilitate the insurance company to establish the credibility among the farmers through
investment out of the premium savings in various welfare activities for socio-economic
development.
Management and Monitoring of the scheme
The existing State Level Co-ordination Committee on Crop Insurance (SLCCCI), of the concerned
State will be responsible for monitoring of the schemes programme in their state. However, a
National Level Monitoring Committee (NLMC) under the chairmanship of Joint Secretary (Credit),
Department of Agriculture cooperation and farmers welfare (DAC & FW) will monitor the scheme at
the national level.
It is proposed to take following monitoring measures for effective implementation during each crop
season to ensure maximum benefits to the farmers:
25. The Nodal Banks intermediaries may collect the list of individual insured farmers (both loanee and
non-loanee) with requisite details like name, fathers' name, Bank Account number, village,
categories - Small and Marginal group, Women, insured holding, insured crops, sum insured,
premium collected, Government subsidy etc from concerned branch in soft copy for further
reconciliation. This will be done online once the E platform is put in the place.
After receiving the claims amount from the concerned Insurance Companies, the financial
institutions/banks should remit/transfer the claim amount to the account of beneficiaries within a
week. This will be transferred online directly by the Insurance company into the accounts of farmers.
The list of the beneficiaries (bank-wise and insured area-wise) may also be uploaded on the crop
insurance portal and website of the concerned insurance companies.
About 5% of the beneficiaries may be verified by the Regional Offices/ Local level Offices of
Insurance Companies who will send the feed back to concerned District Level Monitoring Committee
(DLMC) and State Government/ State Level Coordination Committee on Crop Insurance (SLCCCI).
At least 10% of the beneficiaries verified by the insurance company may be cross verified by the
concerned District Level Monitoring Committee (DLMC) and they should send the feed back to State
Government.
1 to 2% of the beneficiaries may be verified by the Head Offices of the insurance company/
Independent Agencies appointed by the Central Government/ National Level Monitoring Committee
and they should send the necessary feed back to Central Government.
Moreover, District Level Monitoring Committee (DLMC) already overseeing the implementation &
monitoring of the ongoing crop insurance schemes like National Agricultural Insurance Scheme
(NAIS), Weather Based Crop Insurance Scheme (WBCIS), Modified National Agricultural Insurance
Scheme (MNAIS) and Coconut Palm Insurance Scheme (CPIS) shall be responsible for proper
management of the Scheme.
Documents Required for registration under PMFBY:-
Land registration papers – Only those farmers will be able to fill in the
application to get the benefits of this insurance scheme that have access to all
registration papers of the farmland. It applies for land owners as well as
rented farmers. They need to have the land patta number.
Ownership papers of farmland – In case the farmer is the real owner of the
farmland, then he needs to attach copies of those legal documents, which
highlight that the land is registered in his name.
Aadhar card – Attaching a copy of the Aadhar card is a must for all farmers.
It will be used for background checks by the authority.
Personal identification proof of registering farmer – The PAN card, voter
card and ration card photocopies of each farmer must be attached with the
application form. All personal identification details are a must for application.
Details of official bank account – As the insurance money will be offered via
the bank, the farmers need access to active bank accounts. Details like bank
and branch name, account code, back code and address are a must for
proper money transfer.
26. Sowing information – In case any unfortunate incident takes place;
government will need sowing details for compensating the loss. It will highlight
the actual investment on the part of the agricultural labor, and the amount he
has lost due to the losses. The papers which offer these details are termed as
sowing declarations.
Application form – Last but not the least; all applicants need to collect the
application forms from respective central or state government offices. The
form has to be filled in carefully. In case it has any wrong info, it will be
rejected by the scrutiny department.
From where can one obtain online registration form?
Any farmer who wants to safeguard their crops and investment against damage can
go online to register under PMFBY. The digitized application form can be accessed
by landing on the official homepage, by clicking on the link http://pmfby.gov.in/. If one
wants to bypass the primary steps, and get to the form directly, then he must click on
the link http://pmfby.gov.in/farmerRegistrationForm.
How to apply for Pradhan Mantri Fasal Bima
Yojana online?
10.Some changes have been made in the online application process. Any
applicant who desires to enroll under this crop insurance scheme will have to
click on the official link, i.e. http://pmfby.gov.in/.
11.There are six separate tablets on the homepage. In case a farmer desires to
apply for the first time, he will have to take the mouse pointer on the table
marked as “Farmer Corner – Apply for Crop Insurance by Yourself.”
12.As soon as one clicks on this link, a smaller box will emerge on the screen
that has two separate options. One is “Login for Farmer” and the other is
“Guest Farmer.”
13.Farmers who have already applied can access other options by logging in
with their credentials at “Login for Farmer”.
14.For a fresh application, one has to click on the option “Guest Farmer.”
15.It will trigger the site to bring up the official registration form on the computer
screen. It is the revamped application form for 2018.
16.You have to fill the form with appropriate data. Any error will result in the
cancellation of this application.
17.Once the details have filled in, the applicant needs to type in the captcha code
in the box, and click on the green button that is marked as “Create User.”
18.After getting confirmation on registered mobile number, applicants must log in
with their credentials for filling in other details. Only then the entire registration
process will be complete.
How to register any grievance Complaint for
PMFBY?
27. The website has a unique feature that allows farmers to highlight any complaints or
grievances as well. It will allow the department to understand if farmers are having
any issues during enrollment, crop loss report submission, claim status check and
any general doubt clarification. It will help the government to serves these farmers
better.
7. In case an applicant wants to register any complaint, then he has to click on
the official web link, http://pmfby.gov.in/.
8. Then he has to bring the mouse pointer on the 5th
option tablet from the left.
9. As soon as one clicks on this link, it will open a new page that will highlight the
“Complaint/Grievance” box.
10.Four fields are visible in this box, which is “Name,” “Mobile Number,” “Email”
and “Comments.”
11.The farmer needs to type in his name, registered mobile number, and email
ID. Then he has to type in and describe his doubt, issue or complaint.
12.Once it has been done, it is time to register to the complaint by typing in
captcha code in the box marked as “Enter Captcha Code” and clicking on the
yellow “Submit” button.
Role of banks and insurance agencies
It is not possible for the central or the state government to take care of all
transactions alone. Thus, it has been decided that a handful of financial institutes
and insurance companies will be selected by central government. These banks and
insurance companies will work in unison to work out every nitty-gritty of this scheme.
The insurance companies will check the truth behind the claim, while compensation
transfer will be handled by the selected banks. Regional Rural Banks, Cooperative
Banks, and commercial banks will do the task. Some private insurance companies
will be offered the responsibility to check the claim settlement procedure. Their
presence will keep third-party agencies at bay.
Types of coverage components
As mentioned, no discrimination will be done when sorting the application of farmers,
under any category. To ensue most farmers receive the perks of this insurance
scheme, central government will keep additional reservation for those agricultural
workers who fall in schedule caste, schedule tribe and OBC groups. Other than this,
there are two additional categories – compulsory and voluntary.
Compulsory component – It is associated with the SAO credit. When any farmer
applies for credit from banks or other organizations, and utilizes it for reaping a
seasonal harvest, then it is termed as SAO loan. All farm workers, which have
attained this credit, will be categorized under compulsory component. They will not
get entry under PMFBY.
28. Voluntary component – In case a farm worker has not taken any such loan for crop
harvest, then he will automatically fall under the voluntary category. All these farmers
can register and get all benefits that PMFBY offers.
Crops identified by the government
For the time being, only a handful crops have been identified by central government.
Keeping the soli, climate and farming practices, the national government has taken
this decision. All farmers, who grow rice, wheat, pulses, millets, castor, groundnut,
linseed, cashew nut, guava, banana, and mangoes, will be able to apply for this crop
insurance scheme. This list will make sure that farmers from all parts of the nation
will be able to safeguard their crops as per the guidelines of this scheme. With time,
more food and commercial crops will be added to this list by the central government.
After all, the main objective of this scheme is to offer financial security against any
accidents.
Risks covered under Pradhan Mantri Fasal
Bima Yojana scheme
The PMFBY offers protection to all farmers. But that does not mean that it will offer
coverage against all incidents. The following are some coverage related details that
all farmers must know about before applying for this insurance scheme:
1. Loss due to prevented sowing – Framers will not be able to get satisfactory
returns if they fail to sow the seeds in the insured farmland. In case this delay
has been due to natural causes like lack of precipitation, then the agricultural
labor can attain compensation from the government.
2. Damage to standing crop – A standing time of any crop starts right after the
sowing of seeds till before the crop harvesting season. In case the standing
crop suffers from any damage, due to natural causes, then farmers will get
paid under PMFBY.
3. Post yield damages – Before the product is taken to the market for sale, it
needs some time for post-harvesting procedures. During this time, farmers
need to store the crop in a safe place. In case this crop has damaged, farmers
can opt for the insurance claims. But you can put claim before completion of
two weeks, from the date of harvest.
4. Localized incidents – Localized natural calamities are common in many
parts of India. Storms might damage the harvest in one part of the state, while
others, located on the opposite side remain unaffected.
Risks not covered under the scheme
In the PMFBY scheme that government has to pay for damages only in case of
natural calamities. If crops are destroyed by manmade causes, like nuclear disaster,
wars, or radiation fallouts, then farmers will not receive any insurance coverage. If
29. man-made fire chars the crops, or they are eaten by locusts or other animals, then
that too will be the responsibility of the farmer. Any cause, other than natural events
will not be considered under this insurance scheme.
How to calculate premium?
7. For the ease of farmers, there is a unique option that will allow the applicants
to calculate the premium amount. For this, one has to click on the official link
of the yojana, gov.in.
8. Once the home page opens, the applicant has to click on the option tablet that
has been marked as “Insurance Premium Calculator – Know Your Insurance
Premium Before”
9. A new page will open that will allow the person to calculate the premium
amount for the insurance scheme.
10.The applicant has to enter about crop details like the Fasal name, year related
date under the “Year” filed, pick the scheme name under the “Scheme” filed,
and also fill in “State,” “District,” and “Crop” fields with proper date.
11.To get the final premium amount, applicants need to click on the yellow button
12.After clicking on the button, the site to do the necessary calculations. it will
highlight the amount on the screen. Thus, the applicant will get an idea about
the total premium that he has to pay in order to safeguard his investment and
crops from any damage, caused due to natural reasons.
Pradhan Mantri Fasal Bima Yojana Android
App
Along with the new and improved website, the agro department has also launched a
mobile application for this scheme. For the design and launch of this app, the central
agriculture department took help from the Information Technology department. The
“Crop Insurance App” is only for any android smartphone. Any person can download
this application from Google PlayStore for no extra payment. Just initiate a search on
Google PlayStore with the name of this app, and then download it easily. The
application can download from the link http://www.agri-
insurance.gov.in/Document/CCE_Agri_121_27-03-2017.apk. All features, which you
get on the website, are also available on this smartphone application. It will make
things easy for farmers.
Budget allocation for this scheme
It is an ambitious project, undertaken by the Modi government. During the official
budget speech of 2016 -2017, FM Arun Jaitley made it clear that it will put huge
pressure on the national treasury. During this speech, he said that allocations of Rs.
550 crore for proper implementation of this scheme. During the 2017 budget
announcement, 40% extra allocation towards this project that took the total cost to
Rs. 9000 crores. By the end of this year, the central government aims at
incorporating 50% cultivable land under this project.
30. Pradhan Mantri Fasal Bima Yojana Contact
details and helpline numbers
In case any farmer desires to attain any information related to this scheme, then he
can dial the number 011-23382012, followed by an extension 2715 / 2709 to talk to
customer care executives. Any other doubt can clear on to the link help.agri-
insurance@gov.in. You can also visit the official website of PMFBY.
Farmers have been using this unique scheme to reduce their crop losses. Poor
farmers stake everything they have on the crop yield. They choose to take their lives
by committing suicide. But schemes like these have succeeded in lowering the
farmer suicide percentage in the nation. The new site is still under development, and
central government will notify applicants as and when any updates take place.