3.5 lakh A.P. Farmers Benefited From PM Fasal Bima Yojana In 2022-23

As many as 3,49,633 farmers benefited to the tune of ₹563 crore for the financial year 2022-23 under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The number of farmers who had enrolled themselves under the scheme from Andhra Pradesh stood at 1.23 crore and 1.31 crore respectively for the financial years 2022-23 and 2023-24, said Minister of State for Agriculture and Farmers Welfare Ramnath Thakur.

About Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme was launched in India by Ministry of Agriculture & Farmers welfare, New Delhi from Kharif 2016 season onwards.

• National Insurance Company started participating in PMFBY from Rabi 2016 onwards and covered 8 States and 2 Union Territories during the past 5 seasons namely, Rabi 2016-17, Kharif & Rabi 2017 and Kharif & Rabi 2018 covering 70,27,637 farmers.
• Farmers share of premium is Rs. 453 crores and with subsidy from State/Central Govts RS.1909 Crores, gross Premium is Rs.2362 Crores for the 5 seasons together.
• Whilst the claims of Kharif 18 and Rabi 18 are under process, we have closed the first 3 seasons with a gross premium amount of Rs.1804 Crores collected from 35,22,616 farmers and claims to the tune of Rs.1703 crores were paid, by which 17,66,455 no of farmers benefited, which shows almost 50% of the farmers insured were benefitted.

Voluntary for the States and farmers

Mr. Thakur said PMFBY is voluntary for the States and farmers. The Andhra Pradesh government had decided not to implement the scheme from Kharif 2020. Due to the concerted efforts and new initiatives taken by the Government of India, Andhra Pradesh re-joined the scheme with effect from Kharif 2022 season.

Scheme Implemented on ‘Area Approach’ basis

As per the provisions of the PMFBY, insured farmers do not need to file claims in respect of widespread calamities such as drought, floods, etc. as the scheme is mainly implemented on ‘Area Approach’ basis. Admissible claims are worked out and paid directly to the insured farmer’s account by the insurance companies through Digiclaim module on National Crop Insurance Portal (NCIP) based on the yield data, per unit area, furnished to the insurance company by the concerned State government and claim calculation formula envisaged in the Operational Guidelines of the scheme.

Calculation of losses on individual insured farm basis

However, losses due to localised risks of hailstorm, landslide, inundation, cloud burst, natural fire and post-harvest losses due to cyclone, cyclonic / unseasonal rains & hailstorms are calculated on individual insured farm basis. Here, farmers are required to intimate the event of loss to the insurance company / State Government / concerned financial institution / portal / app within 72 hours of the loss. These claims are assessed by a joint committee comprising representatives of the State Government and concerned insurance company.