Understanding Pradhan Mantri Fasal Bima Yojana (PMFBY): Benefits and Implementation
| Aspect | Details |
|---|---|
| Scheme | Pradhan Mantri Fasal Bima Yojana (PMFBY) |
| Launch | Kharif 2016 season by the Ministry of Agriculture & Farmers Welfare, New Delhi |
| Beneficiaries (2022-23) | 3,49,633 farmers |
| **Benefits Provided (2022-23) | ₹563 crore |
| Enrollment (Andhra Pradesh) | 1.23 crore (2022-23) and 1.31 crore (2023-24) |
| Premium Details (5 seasons) | Farmers share: ₹453 crores; State/Central Govt subsidy: ₹1909 crores; Gross Premium: ₹2362 crores |
| Farmers Covered (5 seasons) | 70,27,637 farmers |
| Claims Paid (First 3 seasons) | ₹1703 crores to 17,66,455 farmers |
| Implementation Basis | 'Area Approach' basis for widespread calamities; Individual farm basis for localised risks |
| Key Features | Voluntary for States and farmers; Claims processed via Digiclaim on National Crop Insurance Portal |
| Andhra Pradesh | Re-joined the scheme from Kharif 2022 after opting out in Kharif 2020 |
| Localised Risks | Hailstorm, landslide, inundation, cloud burst, natural fire, post-harvest losses |
| Claim Intimation | Farmers must intimate loss within 72 hours; assessed by joint committee (State Govt & insurer) |