Launched Year: 18 February 2016
Launched By: Prime Minister Narendra Modi
Read More: [ Click Here To Apply For The Scheme ]
Pradhan Mantri Fasal Bima Yojana is a scheme specially for farmers to make crop insurance when there is crop loss which is sponsored by the government.
The yojana is made for farmers where every stakeholder integrates on a single platform and is a scheme that works on the principle called one nation – one scheme.
You can even use the mobile app to apply for this Pradhan Mantri Fasal Bima Yojana and apply for the insurance policy for crops.
The apps help the farmers to have a proper income and benefit from the crop continuously and also help farmers to use emerging technology to grow the crops.
All the farmers who have specific land or their own area and specific growing crops in the same particular area during a particular season are eligible to apply for this scheme
How Can Farmers Report Crop Loss and Claim Insurance?
If there is a loss of grown crops due to any climatic changes or any reason the farmers need to inform or report about the crop loss within 72 hours
They can report the loss of grown crops by using the Crop Insurance App and submit the report on the same platform or can visit the CSC Centre to complain about it or in any agricultural office
If the report of loss of crops is right then the money from the claim is provided directly in their bank account of the farmer.
New Provisions Provide By Pradhan Mantri Fasal Bima Yojana?
- A penalty with a 12% interest rate has to be paid by the insurance company if they do not settle the claim that has to be provided to the farmers on the loss of crops within the given time period.
- More time is provided to the farmers to report the loss of grown crop for up to 72 hours which earlier it was 48 hours to report
- The farmers can even change the crop name earlier it was 2 days now they have made it for up to 1 month before the cut off date
- The insurance is based on the crops grown by the farmers and the right claim is assured to the farmers
- The claim can be done even their is an attack on grown crops by the wild animals and additional liabilities has to be provided by the insurance company
- The scheme provides a separate budget for all the administrative expenses of 2% budget by the scheme
To Summarize, “the Pradhan Mantri Fasal Bima Yojana” is the best yojana to claim the amount on the
loss of grown crops where the insurance company provides and assures the right claim on time to the farmers on serious distress and loss of crops.
As you can use the mobile app the money will be directly added to your bank account you there is any loss in the grown crop with interest and claimed insurance thus farmers can have continuous income even they suffer loss.