31-07-2021 | 15:47 PM
PM Fasal Bima Yojana
The Central government extended the cut-off date for enrolment of farmers under Pradhan Mantri Fasal Bima Yojana from July 15 to July 23 for the Kharif season 2021.
Key Points:
• Maharashtra government had requested to extend the deadline of the Crop Insurance scheme, PMFBY till July 23.
• State Government has requested to extend the cut-off for Kharif 2021 in the aftermath of challenges faced due to COVID-19 pandemic.
About Pradhan Mantri Fasal Bima Yojana (PMFBY):
• Prime Minister Narendra Modi announced the Pradhan Mantri Fasal Bima Yojana on February 18, 2016, as a yield insurance program for farmers.
• It was introduced in accordance with the One Nation– One Scheme principle by combining the finest characteristics of the previous two schemes, the National Agricultural Insurance Scheme (NAIS) and the Modified National Agricultural Insurance Scheme (MNAIS), and eliminating their inherent flaws.
• Its goal is to lower the cost of premiums for farmers and to ensure that crop assurance claims are paid in full as soon as possible.
• This scheme provided cover to all Food & Oilseeds crops and annual commercial or horticultural crops for which past yield data is available.
• It covers those crops as well for which a requisite number of Crop Cutting Experiments (CCEs) are being conducted under the General Crop Estimation Survey (GCES).
NOTE: PMFBY is implemented by empaneled general insurance companies. Selection of Implementing Agency (IA) is done by concerned State Government by bidding. It is administered by the Ministry of Agriculture.
