Pradhan Mantri Fasal Bima Yojana

Question 1

Launched in

Answer 1

2016

Question 2

Aim

Answer 2

To provide affordable risk coverage for the crops to the farmers in case of a crop failure

Question 3

Monitored by

Answer 3

Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW), Ministry of Agriculture & Farmers Welfare (MoA&FW) and the concerned State in coordination with various other agencies

Question 4

Objective

Answer 4

One Nation, One Crop, One Premium

Question 5

Risks covered:
1. ______from non-preventable risks, such as natural fire and lightning storms, hailstorms, cyclones, typhoons, tempest, hurricanes, tornados, etc.
2. The farmers of a notified area, willing to sow/plant crops are prevented from sowing/planting due to bad weather conditions, will be provided with claims upto a maximum of _____ of the sum insured.
3. Insurance is provided upto a maximum period of ______ days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field after harvesting.
4. Insurance against localised risks i e. hailstorm, landslide, and Inundation affecting _____ farms in the notified area.

Answer 5

1. Cover yields losses
2. 25%
3. 14
4. Isolated

Question 6

Premium Rates of Kharif, Rabi (food and oilseeds crops) and Kharif & Rabi (annual commercial/horticultural crops)

Answer 6

Maximum Insurance charges payable by the farmer (% of sum insured, SI)
1. Kharif: 2% of SI or Actuarial rate, whichever is less
2. Rabi: 1.5% or Actuarial rate, whichever is less
3. Kharif & Rabi: 5% of SI or Actuarial rate, whichever is less

• the remaining premium is shared between the central and state governments. In the ratio of 50:50 in normal states and 90:10 in the case of north-eastern.

Question 7

Exclusions

Answer 7

Losses due to war and related dangers, nuclear risks, riots, malicious damage, theft, act of enmity, grazed and/or destroyed by domestic and /or wild animals and harvested crop bundled and heaped at a place before threshing in case of post-harvest losses