PM Fasal Bima Yojana (PMFBY): It is a centrally sponsored scheme for providing insurance coverage to farmers in participating states/UTs in the scheme. PM Fasal Bima Yojana (PMFBY) scheme is also important for UPSC Prelims 2023 and UPSC Mains Exam (GS Paper 2- Various government schemes and initiatives for promotion and development of various sectors in the country).
Recently, detailed information about PM Fasal Bima Yojna (PMFBY) was provided by the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar in a written reply in Lok Sabha.
The minister informed that Some States/UTs like Bihar, Telangana, Andhra Pradesh Jharkhand, West Bengal and Gujarat have opted out of the PM Fasal Bima Yojna scheme after implementing it for some seasons.
All States/UTs can opt for the Pradhan Mantri Fasal Bima Yojana (PMFBY). The PM Fasal Bima Yojana (PMFBY) is voluntary in nature for all the participating States/Union Territories (UTs).
The PM Fasal Bima Yojana (PMFBY) Scheme was introduced in the India from Kharif 2016 season. Till now, 27 States/Union Territories have implemented the PM Fasal Bima Yojana (PMFBY) Scheme in one or more seasons. The coverage under the PMFBY scheme (in states/UTs implementing it) has been around 30% of Gross Cropped Area (GCA) since the beginning of the scheme in 2016-17. Year-wise details of PMFBY coverage in terms of farmer applications enrolled and area insured during last three years is given below-
Sr. No. | Year | Farmer Applications (In Lakhs) | Area Insured (in lakh ha.) |
1. | 2019-2020 | 616.16 | 508.4 |
2. | 2020-2021 | 623.19 | 495.4 |
3. | 2021-2022 | 831.76 | 459.0 |
PMFBY is a centrally sponsored scheme 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.
The PMFBY envisages coverage of all food crops (cereals, millets and pulses), oilseeds and commercial/horticultural crops.
Ans. PMFBY was launched in 2016 by replacing two schemes namely, National Agricultural Insurance Scheme (NAIS) as well as the Modified NAIS.
Ans. The PM Fasal Bima Yojana (PMFBY) is voluntary in nature for all the participating States/Union Territories (UTs).
Ans. Andhra Pradesh has re-joined the PM Fasal Bima Yojana (PMFBY) scheme from Kharif 2022 season and Punjab has made a budget announcement to do the same due to the efforts of Ministry of Agriculture & Farmers Welfare.
Union Budget 2023-24 on Agriculture and Farmers Welfare
PMFBY was launched in 2016 by replacing two schemes namely, National Agricultural Insurance Scheme (NAIS) as well as the Modified NAIS.
The PM Fasal Bima Yojana (PMFBY) is voluntary in nature for all the participating States/Union Territories (UTs).
Andhra Pradesh has re-joined the PM Fasal Bima Yojana (PMFBY) scheme from Kharif 2022 season and Punjab has made a budget announcement to do the same due to the efforts of Ministry of Agriculture & Farmers Welfare.
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