Crop insurance

Crop insurance

Inspire agro lawyers is verified all the documents

Pradhan Mantri Fasal Bima Yojana 
(PMFBY) was introduced in all over India from Kharif 2016 Season but due to some technical reason it was implemented from Rabi 2016-17 Season in all districts.
Objective of the Scheme
Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events like natural calamities.
Encouraging farmers to adopt innovative and modern agricultural practices.
Stabilizing the income of farmers to ensure their continuance in farming.
Ensuring flow of credit to the agriculture sector, which will contribute to food security, crop diversification and enhancing growth and protecting farmers from production risks
Details of the Scheme
PMFBY is compulsory for Loanee farmers and optional for non-loanee farmers.
Insurance Unit (Notified Area) is : Village/ Village Panchayat.
Stabilizing the income of farmers to ensure their continuance in farming.
Farmers premium rate for Kharif Season is 2%, Rabi Season 1.5% and for Commercial / Horticultural crops 5% on Sum Insured.
Coverage of Risks
Prevented Sowing/ Planting Risks- Due to deficit rainfall/ adverse seasonal conditions.
Standing Crops – Drought, Dry spells, Flood, inundation, Pests and Diseases, Landslides, Natural Fire, and Lightening, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane and Tornado.
Post- Harvest Losses- Maximum Two Weeks
Localized Calamities – Localized risks of hailstorm, Landslides.
Modified National Agricultural Insurance Scheme (MNAIS):
The Government of India introduced Modified National Agricultural Insurance Scheme (MNAIS) during Rabi 2010-11 on pilot basis in 3 Districts viz., Prakasam, Nellore and Warangal which has many more farmer friendly features such as coverage of post harvest losses, prevented sowings etc. Being major crop, rice crop is selected for implementation under Village made as Unit under this scheme
Additional Features:
Coverage of prevented sowings
Coverage of post harvest losses
Localized calamities (hail storm) covered & claims assessment on individual basis
District major crop under Village Insurance Unit.
Claims processed based on past 7years average yield by excluding 2 disaster years
On account payment: In the event of mid season crop failure, 25% of likely claim will be paid in advance to the farmers.
Minimum indemnity level in case of MNAIS is 70%.
Premium Subsidy:
40 % to 75 % of premium subsidy is allowed to all the farmers irrespective of their category.
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