PM Fasal Bima Yojana: Now Farmers Will Get Full Compensation for Crop Loss Due to Natural Calamities

Kuldeep Singh Chundawat

To strengthen the rural economy and ensure farmers are not left devastated by crop failures, the Government of INDIA is actively running the Pradhan Mantri Fasal Bima Yojana (PMFBY). Under this scheme, farmers whose crops are damaged due to floods, unseasonal rains, droughts, or other natural disasters are provided financial compensation to cover their losses.

What is PM Fasal Bima Yojana?

Launched to protect farmers from unpredictable climate conditions, PMFBY insures crops against natural calamities. Once enrolled, if a farmer’s crops are damaged due to floods, excessive rainfall, storms, or drought, the government pays the insured amount directly to the farmer’s bank account.

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What Damages Are Covered?

The PM Fasal Bima Yojana provides insurance coverage for losses caused by:

Drought
Floods
Hailstorms
Cyclones
Unseasonal rains
Pests and diseases

According to official data, more than 36 crore farmers have already benefited from this flagship scheme since its inception.

How to Apply for PMFBY?

Farmers can apply for the scheme through both online and offline modes:

Online Application:

Visit the official website – https://pmfby.gov.in.
Click on the ‘Apply for Insurance’ option.
Fill in your crop and personal details and upload necessary documents.
Submit the form for approval.

Offline Application:
Farmers can visit their nearest bank branch, co-operative society, or Common Service Centre (CSC). They need to carry identification, land documents, and sowing proof. Applications must be submitted within 10 days of crop sowing to be eligible.

Premium Structure Under PMFBY

Farmers are required to pay a very nominal premium, while the remaining premium is shared by the central and state governments:

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2% for Kharif crops
1.5% for Rabi crops
5% for commercial and horticultural crops

This ensures that farmers pay a minimal amount while still receiving significant financial protection.

Why This Scheme Matters

Crop damage due to weather anomalies is one of the major reasons for farmer distress in India. The PMFBY serves as a crucial safety net, ensuring financial stability for farmers, reducing debt cycles, and improving agricultural confidence. With an easy application process and minimal premiums, this scheme plays a major role in India’s goal of doubling farmers’ income.

Author Profile

Kuldeep Singh Chundawat: My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.