Fasal Bima Yojana Update:- At a first cabinet meeting held on January 1, 2025 government decided to increase the budget under PMFBY up to Rs 69,515 crore to provide relief to the farmers facing crop damage in their fields. The Fasal Bima Yojana is a comprehensive crop insurance scheme that aims to protect farmers against crop loss due to various reasons such as natural disasters, pests, and diseases. This scheme provides financial assistance to farmers to help them recover from the losses incurred during such unforeseen events. Farmers participating in the Fasal Bima Yojana pay a premium based on the type of crop and the extent of coverage.
In case of crop damage, farmers are eligible to receive compensation for their losses. The scheme covers a wide range of crops and ensures that farmers have a safety net to fall back on during difficult times. If you’re a citizen of India and a farmer by profession and wish to avail of this insurance coverage so keep reading this article for more information regarding the Fasal Bima Yojana.
PM Fasal Bima Yojana Update
The PM Fasal Bima Yojana Update is that the government not only decided to uplift the budget of this scheme up to Rs 69, 515 crore but also approved the creation of a Fund for Innovation and Technology with a corpus of Rs 824.77 crore, by offering this fund government aims to promote technological advancements and research under Pradhan Mantri Fasal Bima Yojana.
The objective of Fasal Bima Yojana
The main objective of the Fasal Bima Yojana is to provide financial support and risk mitigation to farmers in India in case of crop failure due to natural calamities, pests, or diseases. By offering a crop insurance scheme, the government aims to safeguard the livelihoods of farmers and ensure they have a safety net to protect them from unforeseen losses. This scheme plays a crucial role in promoting agricultural sustainability and supporting the farming community across the country. By promoting financial security and stability in agriculture, this scheme contributes to the well-being of farmers and the sustainability of the agricultural sector in the country.
Helpful Summary of Fasal Bima Yojana Update
| Name of the Scheme | Fasal Bima Yojana Update |
| Launched By | Government of India |
| Year | 2024-25 |
| Objective | Provide financial assistance to Farmers of the India so that they are able to continue their agricultural activities without any financial troubles. |
| Budget | Rs 69,515 Crore |
| Beneficiaries | Farmers of the India who are in need of financial assistance. |
| Mode | Online |
| Official Website | https://pmfby.gov.in/ |
Eligibility Criteria
To be eligible for PMFBY applicant must clear the following eligibility criteria these are as mentioned below
- Applicant must be a permanent resident of India.
- Applicant must be a farmer by profession
- Applicant must have land of their own with a valid agreement.
- Applicant must have their bank account linked with an Aadhar card
- The farmer must not receive any financial benefits from other sources.
Benefits of Fasal Bima Yojana
The Pradhan Mantri Fasal Bima Yojana (PMFBY) offers several benefits to farmers in India. Some of the key advantages of the scheme include:
- Financial Protection: PMFBY provides financial assistance to farmers in the event of crop loss due to natural calamities, pests, or diseases, helping them recover from such setbacks.
- Affordable Premiums: The scheme offers crop insurance at a subsidized premium rate, making it more accessible and affordable for farmers of all economic backgrounds.
- Comprehensive Coverage: PMFBY covers a wide range of crops and ensures that farmers have protection against various risks, promoting agricultural sustainability.
- Timely Compensation: The scheme aims to provide prompt compensation to farmers in case of crop damage, enabling them to recover and sustain their livelihoods.
- Risk Mitigation: By participating in PMFBY, farmers can mitigate the risks associated with crop cultivation and reduce the uncertainty involved in agricultural activities.
Required Documents
- Aadhar Card
- Bank Details
- Resident Proof
- Ration Card
- Voter ID
- Passport Sized Photograph
- Phone Number
Salient Features
- Budget: Under this scheme, the government set a total budget of Rs 69,515 crore to help eligible farmers in their difficult times.
- Financial Support: PMFBY provides financial assistance to farmers in the event of crop loss due to natural calamities, pests, or diseases, helping them recover from such setbacks.
- Timely Compensation: The scheme aims to provide prompt compensation to farmers in case of crop damage, enabling them to recover and sustain their livelihoods.
Application Process
To apply online for Pradhan Mantri Fasal Bima Yojana (PMFBY), the applicant must follow some simple steps these are as mentioned below:
Step 1: After clearing all the eligibility criteria’s applicant needs to visit the official PMFBY website.
Step 2: Once the applicant reaches the home page of the official website, now needs to click on the “Apply Online” option.
Step 3: An application form will open on the screen
Step 4: Now applicant needs to enter all the asked details.
Step 5: Once quickly review all the details carefully.
Step 6: At last click on Submit to complete the process.
In this way, applicants can easily register themselves under Pradhan Mantri Fasal Bima Yojana (PMFBY) Online.
Login for Fasal Bima Yojana
Step 1: First of all, the applying candidate needs to visit the official website to log in officially.
Step 2: Once the homepage of the official website opens on the screen.
Step 3: Now click on the ‘’Sign In’’ option.
Step 4: A new page will open on your desktop screen the applicant must enter your registered mobile number and password.
Step 5: After that, enter the captcha code shown in the image.
Step 6: Once quickly review all the details carefully.
Step 7: At last, click on the Login option to complete their login process.
Helpline Number
- Department of Agriculture & Farmers Welfare, MoA & FW,
- Krishi Bhawan,
- Dr Rajendra Prasad Road,
- New Delhi – 110001
FAQs
Q. Which department launched this Pradhan Mantri Fasal Bima Yojana?
Ministry of Agriculture and Farmers Welfare launched this Pradhan Mantri Fasal Bima Yojana.
Q. What is the purpose of this Pradhan Mantri Fasal Bima Yojana?
The main purpose of Pradhan Mantri Fasal Bima Yojana is to provide financial assistance to farmers of the state by which they are able to irrigate their crops without any financial constraints. .
Q. How can apply for the Pradhan Mantri Fasal Bima Yojana online?
To apply online for Pradhan Mantri Fasal Bima Yojana you need to visit the official website.