Pradhan Mantri Fasal Bima Yojana and Mukhya Mantri Fasal Sahayata Yojana

Cabinet approved the Prime Minister’s Crop Insurance Scheme on January 13, 2016 to remove the uncertainties in relation to the farmers’ crop. The Prime Minister’s Crop Insurance Scheme will reduce the loss of farmers’ crops due to natural calamities, by reducing the premiums of the farmers to a limit. 8,800 crore rupees will be spent for this scheme. Under the Prime Minister’s Crop Insurance Scheme, farmers will pay a premium of 2% premium for the kharif crop and 1.5% premium for Rabi crop, fixed by insurance companies. In this, insurance installments to be paid by farmers against poor crops due to natural calamities have been kept very low, which can be easily paid by farmers to each level. This scheme not only provides protection for Kharif and Rabi crops but also for commercial and horticultural crops, for the annual commercial and horticultural crops, farmers will have to pay 5% premium (installment).   To know more Visit : http://pmfby.gov.in/