Introduction
The Pradhan Mantri Fasal Bima Yojana was first launched by the Prime Minister of India that is Narendra Modi in 2016. This Pradhan Mantri Fasal Bima Yojana was launched in India by the Government of India in order to provide security to the farmers all around India. The Government of India by launching the scheme of Pradhan Mantri Fasal Bima Yojana has helped a lot of farmers by ensuring them with quite an adequate percentage of profit from their crops and also guaranteeing them a better life.
Details
The Pradhan Mantri Fasal Bima Yojana aims at providing compensation to the farmers for any kind of losses in their yielding of crops.
The Pradhan Mantri Fasal Bima Yojana will pay the farmers and provide them with all their needs to sustain their lives.
Properties of the scheme
India is known to have faced climatic extremes which have directly affected the farmers and their crop production.For the insurance of India’s crop security,the farmers must earn a reasonable amount based on their production.They deserve to be rewarded after the humongous risks they take on in agriculture.
The abrupt climatic changes all over India has led to the farmer’s demise by severe crop damage.
The Pradhan Mantri Fasal Bima Yojana has helped the farmers by ensuring them security against financial breakdowns in times of production crisis. The Pradhan Mantri Fasal Bima Yojana ensures the safety and protection from monsoon failure or an extreme weather condition as these are the factors on which a farmer’s lossess are responsible as the farmers are responsible for maintaining the stability in the economy and overall food production of the country.
Objectives of the mission:
- The Pradhan Mantri Fasal Bima Yojana has the aim of providing all the farmers and cultivators of India with insurance coverage and also support them financially in the event of failure of any of the notified crop due to diseases or action of pests or maybe natural calamities.
- The Pradhan Mantri Fasal Bima Yojana has also been of great help to the farmers by stabilizing their income so that they can all the way provide for their families even at times of severe crop damage or famines or droughts.It focuses on the farmer’s and their families’ well being by providing them with financial support and also helping them maintain a steady lifestyle even when their production is running low because of natural or maybe other calamities.
- The Government of India by launching the scheme of Pradhan Mantri Fasal Bima Yojana has also helped the farmers to adopt and utilize new and innovative methods of farming improvise and increase their crop yield and production ratio.The advent of more precise technology has led to the more developed methods of cultivation which help yield a good and efficient crop in more adverse climatic conditions which the government has taken initiative to teach the farmers to keep their crop production ratio constant and help them sustain their positions.
- According to the World Health Organisation (WHO), almost 6 out of 10 farmers commit suicide due to lack of production of crops and among the rest 3 try doing something else to provide for their families.
- By implementing new methods of agriculture and improvising cultivation the Government of India is trying to minimize the number of losses of farmers it incurs due to their committing suicide as there is no other way left for them when monsoon fails or a famine strikes.Also providing them with insurance when their crop fails and supporting them financially is the how this scheme stabilizes the income of the farmers and ensures the flow of credit to the agriculture.
Benefits of the Scheme:
- The farmers will be needed to pay a uniform premium of only 2% for all kharif crops and 1.5% for all rabi crops.In case of annual horticultural or commercial crops, the premium they are required to pay is only 5 %.In spite of such low premium rates, the balance premium will be paid by the government to provide full insurance to the farmers against crop loss on account of natural calamities.
- The Pradhan Mantri Fasal Bima Yojana has no stated upper limit o government subsidy.Even if the balance premium rises to 90%, it will still be borne by the government.
- After an analysis, the Pradhan Mantri Fasal Bima Yojana has come to the conclusion that previously there used to be a provision of capping the premium rate but it resulted in low claims being paid to farmers.Though the capping was done to limit government outgo on the premium subsidy now it has been removed thus letting the farmers get a full claim against the sum insured without any reduction.
- The Pradhan Mantri Fasal Bima Yojana also encourages the use of technology to a great extent.Smartphones will be used for capturing and uploading data of crop cutting to reduce the delays of claim payment to the farmers.Remote sensing is also been said to be used for reducing the number of crop cutting experiments.
- The Pradhan Mantri Fasal Bima Yojana has the aim of prevention of the children’s health by preventing the cultivation of bad or faulty crops
Eligibility criteria for the scheme:
The scheme can be applied by any farmer who is notified in the particular area from which he is applying.
How to apply for the scheme:
The farmers applying for the scheme in the notified area must possess a Crop Loan account/KCC account and are known as Loanee Farmers as to them the credit limit is renewed for the notified crop during the crop session.
Documents required:
The voter identity card and the adhaar card is accepted as the age proof and also a notification from the local authority is required.
Important point:
The Pradhan Mantri Fasal Bima Yojana aims to provide compensation to the farmers for any kind of losses in their yielding of crops.
The Pradhan Mantri Fasal Bima Yojana will pay the farmers and provide them with all their needs to sustain their lives.
Conclusion
India is known to have faced climatic extremes which have directly affected the farmers and their crop production.For the insurance of India’s crop security, the farmers must earn a reasonable amount based on their production.They deserve to be rewarded after the humongous risks they take on in agriculture. The abrupt climatic changes all over India has led to the farmer’s demise by severe crop damage.
The Pradhan Mantri Fasal Bima Yojana has helped the farmers by ensuring them security against financial breakdowns in times of production crisis. The Pradhan Mantri Fasal Bima Yojana ensures the safety and protection from monsoon failure or an extreme weather condition so that farmer’s life is sustained.
