Pradhan Mantri Fasal Bima Yojana (PMFBY) The objectives of the Pradhan Mantri Fasal Bima Yojana are;

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

Coverage of Crops Under the Pradhan Mantri Fasal Bima Yojana are;

1. Food crops (Cereals, Millets and Pulses),
2. Oilseeds
3. Annual Commercial / Annual Horticultural crops

Coverage of Risks under the Pradhan Mantri Fasal Bima Yojana are; Following stages of the crop and risks leading to crop loss are covered under the scheme.
a) Prevented Sowing/ Planting Risk: Insured area is prevented from sowing/ planting due to deficit rainfall or adverse seasonal conditions
b) 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.
c) 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.
d) Localized Calamities: Loss/ damage resulting from occurrence of identified localized risks of hailstorm, landslide, and Inundation affecting isolated farms in the notified area.

Coverage of Exclusions under the Pradhan Mantri Fasal Bima Yojana are; General Exclusions: Risks and Losses arising out of following perils shall be excluded War & kindred perils, nuclear risks, riots, malicious damage, theft, act of enmity, grazed and/or destroyed by domestic and/or wild animals, in case of Post–Harvest losses the harvested crop bundled and heaped at a place before threshing, other preventable risks.

Sum Insured /Coverage Limit under the Pradhan Mantri Fasal Bima Yojana

1. Sum Insured per hectare for both loanee and non-loanee farmers will be same and equal to the Scale of Finance as decided by the District Level Technical Committee and would be pre-declared by SLCCCI and notified. No other calculation of Scale of Finance will be applicable. Sum Insured for individual farmer is equal to the Scale of Finance per hectare multiplied by area of the notified crop proposed by the farmer for insurance. ‘Area under cultivation’ shall always be expressed in ‘hectare’.
2. Sum insured for irrigated and un-irrigated areas may be separate.

Premium Rates and Premium Subsidy under the Pradhan Mantri Fasal Bima Yojana

1. The Actuarial Premium Rate (APR) would be charged under PMFBY by implementing agency (IA). The rate of Insurance Charges payable by the farmer will be as per follows:
   Season - Kharif Crops: Food & Oilseeds crops (all cereals, millets, & oilseeds,pulses) Maximum Insurance charges payable by farmer (% of Sum Insured):2.0% of SI or Actuarial rate, whichever is less.
   Season - Rabi Crops: Food & Oilseeds crops (all cereals, millets, & oilseeds, pulses) Maximum Insurance charges payable by farmer (% of Sum Insured): 1.5% of SI or Actuarial rate, whichever is less.
   Season - Kharif & Rabi Crops: Annual Commercial / Annual Horticultural crops Maximum Insurance charges payable by farmer (% of Sum Insured): 5% of SI or Actuarial rate, whichever is less.

Application form for Pradhan Mantri Fasal Bima Yojana is available on the following link: https://pmfby.gov.in/farmerRegistrationForm

For more details, please visit the following website:
https://pmfby.gov.in/