PM Fasal Bima Yojana List 2023 Documents, Benefits

I. Introduction

A. Overview of PMFBY

B. Importance of crop insurance for farmers


II. Background of PMFBY

A. History of crop insurance in India

B. Need for PMFBY

C. Launch and implementation of PMFBY


III. Features of PMFBY 2023

A. Coverage and eligible crops

B. Premiums and subsidies

C. Claim settlement process

D. Role of insurance companies and banks


VI. How to apply offline for Pradhanmantri fasal bima Yojana

A. Crop insurance Status 2023

B. Fasal Bima online 2023 documents



I. Introduction

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance scheme launched in India in 2016. The objective of the scheme is to provide financial protection to farmers against crop loss due to natural calamities, pests, and diseases. The scheme covers major food and cash crops and is mandatory for farmers who take crop loans from banks. The premium for the insurance is shared between the government, the farmer, and the insurance company, with the government bearing a significant portion of the cost. The scheme aims to reduce the financial burden on farmers in the event of crop loss and help them to recover their losses quickly. 





A. Overview of PMFBY

The PMFBY is a comprehensive risk insurance scheme for farmers in India, aimed at reducing the financial impact of crop loss due to natural calamities, pests, and diseases. The scheme covers food crops, oilseeds, and annual commercial/horticultural crops. The premium is subsidized by the government, with farmers required to pay only a nominal amount. The insurance payout is made directly to the farmer's bank account in the event of a crop loss. The scheme is implemented through a network of insurance companies and facilitates quick and efficient claim settlement. The PMFBY aims to improve the economic stability of farmers and ensure food security in India by reducing the financial risks associated with agriculture.


B. Importance of crop insurance for farmers

Crop insurance is important for farmers for several reasons:

  • Risk mitigation: Agriculture is a risky business, and crops can be lost due to natural calamities, pests, diseases, and other unforeseen events. Crop insurance helps farmers mitigate these risks by providing financial protection against crop loss.
  • Improved livelihoods: Crop insurance helps farmers recover from crop loss and maintain their livelihoods. In the event of crop failure, farmers can receive compensation, which can help them make ends meet and continue farming.
  • Encourages investment in agriculture: With crop insurance in place, farmers are more likely to invest in their farms, as they have a safety net in the event of crop failure. This can lead to increased productivity and improved food security.
  • Supports food security: By reducing the financial impact of crop loss, crop insurance helps ensure food security. This is especially important in developing countries, where agriculture is a major source of livelihood and food supply.


Overall, crop insurance plays a critical role in supporting farmers, improving their livelihoods, and ensuring food security.


II. Background of PMFBY

The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched in India in 2016 as a comprehensive crop insurance scheme for farmers. The scheme was introduced with the aim of reducing the financial burden on farmers in the event of crop loss due to natural calamities, pests, and diseases. The government of India saw the need for a comprehensive crop insurance scheme to address the issue of crop loss and improve the economic stability of farmers.


Before the launch of PMFBY, there were several crop insurance schemes in India, but they were not comprehensive and had low coverage and participation rates. The PMFBY was designed to address these issues and provide comprehensive coverage to farmers at a subsidized premium. The scheme has been well received by farmers and has improved the accessibility and affordability of crop insurance in India.


The PMFBY has been implemented in collaboration with insurance companies, banks, and the government. The scheme is mandatory for farmers who take crop loans from banks and covers a wide range of crops, including food crops, oilseeds, and commercial/horticultural crops. The government bears a significant portion of the premium cost, and the remaining amount is shared between farmers and insurance companies. The scheme aims to provide financial protection to farmers, encourage investment in agriculture, and improve food security in India.



A. History of crop insurance in India

The history of crop insurance in India dates back to the 1970s when the first crop insurance scheme was launched by the government. Over the years, several crop insurance schemes have been introduced in India with the objective of providing financial protection to farmers against crop loss due to natural calamities, pests, and diseases. However, these early schemes had limited coverage and low participation rates due to various factors, such as high premiums, complex claim settlement processes, and lack of awareness.


In the 2000s, the government introduced several reforms to improve the accessibility and affordability of crop insurance for farmers. The reforms included subsidizing the premium, streamlining the claim settlement process, and increasing awareness about the benefits of crop insurance. Despite these efforts, the coverage and participation rates of crop insurance in India remained low.



B. Need for PMFBY

The need for the Pradhan Mantri Fasal Bima Yojana (PMFBY) arose due to the following reasons:


  • High risk in agriculture: Agriculture is a risky business, and crops can be lost due to natural calamities, pests, diseases, and other unforeseen events. This can have a significant financial impact on farmers and affect their livelihoods.
  • Limited coverage of earlier schemes: Earlier crop insurance schemes in India had limited coverage and low participation rates. This was due to high premiums, complex claim settlement processes, and lack of awareness.
  • Economic instability of farmers: Crop loss can lead to financial instability and poverty for farmers. The need for a comprehensive crop insurance scheme that provides financial protection to farmers against crop loss was seen as crucial for improving their economic stability.
  • Food security: Agriculture is a major source of livelihood and food supply in India. By reducing the financial impact of crop loss, crop insurance helps ensure food security in the country.
  • Encouragement of investment in agriculture: With crop insurance in place, farmers are more likely to invest in their farms, as they have a safety net in the event of crop failure. This can lead to increased productivity and improved food security.


Overall, the PMFBY was introduced to provide comprehensive financial protection to farmers against crop loss and improve the economic stability and food security in India.



III. Features of PMFBY 2023

A. Coverage and eligible crops

The Pradhan Mantri Fasal Bima Yojana (PMFBY) provides comprehensive insurance coverage to farmers in India. The following crops are eligible for coverage under the scheme:

  • Food crops: Rice, wheat, pulses, and coarse cereals
  • Oilseeds: Groundnut, mustard, soybean, and sesame
  • Commercial/horticultural crops: Sugarcane, cotton, jute, and vegetables


The scheme covers the entire country and is mandatory for farmers who take crop loans from banks. The insurance coverage under PMFBY is provided against natural calamities such as drought, flood, cyclone, hailstorm, etc., as well as diseases and pests. The scheme provides financial protection to farmers in the event of crop loss, which can help them recover from the financial impact and continue farming.


The government bears a significant portion of the premium cost, and the remaining amount is shared between farmers and insurance companies. The premium rate is based on the type of crop and the geographical area where it is grown. The PMFBY aims to provide financial protection to farmers and improve the accessibility and affordability of crop insurance in India.


C. Claim settlement process

The claim settlement process under the Pradhan Mantri Fasal Bima Yojana (PMFBY) is as follows:


  • Assessment of crop damage: After the harvest of crops, the local agriculture department assesses the extent of damage due to natural calamities, pests, and diseases.
  • Reporting of loss: The farmers report their loss to the concerned authorities, and the authorities provide the insurance company with the details of the damage.
  • Verification of loss: The insurance company verifies the loss reported by the farmer and the assessment made by the local agriculture department.
  • Calculation of claim amount: The claim amount is calculated based on the extent of damage and the insured amount.
  • Payment of claim: The insurance company settles the claim and transfers the claim amount to the bank account of the farmer.


The PMFBY has made significant efforts to simplify and streamline the claim settlement process. The scheme uses technology, such as remote sensing and mobile apps, to assess crop damage and reduce the time and effort required for claim settlement. The scheme has also introduced measures to ensure that the claim settlement process is transparent and fair to farmers.


The PMFBY aims to provide quick and efficient claim settlement to farmers in the event of crop loss. The scheme has been well received by farmers and has helped reduce the financial impact of crop loss and improve the economic stability of farmers in India.


D. Role of insurance companies and banks

Insurance companies and banks serve different financial needs. Insurance companies provide financial protection against potential risks, such as death, injury, or property damage. They do this by selling policies that pay out a specified amount in the event of a loss. Banks, on the other hand, provide financial services such as deposit accounts, loans, and investment services to individuals and businesses. They help customers save and grow their money, and provide access to credit for various needs. Both insurance companies and banks play important roles in the financial industry and the economy as a whole.



Benefits of PMFBY for farmers

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is an insurance scheme for farmers in India. It provides financial protection to farmers against crop loss due to various reasons such as natural calamities, pest attacks, and diseases. The benefits of PMFBY for farmers include:


  • Financial security: In the event of crop loss, farmers are eligible for insurance claims under PMFBY, which helps them cope with the financial burden.
  • Reduced risk: PMFBY helps reduce the risk of crop loss for farmers, which can have a major impact on their income and livelihoods.
  • Easy access to credit: With the assurance of crop insurance, farmers are more likely to have access to credit, which can help them invest in their farming operations.
  • Increased productivity: By reducing the financial burden of crop loss, farmers can focus on improving their farming methods, which can lead to increased productivity and profits.


Overall, PMFBY provides farmers with financial stability and helps reduce their risk in the face of crop loss, ultimately contributing to the overall development of the agriculture sector.


VI. How to apply offline for Pradhanmantri fasal bima Yojana


  • First, visit the nearest Insurance company.
  • After that, receive a fasal bima yojana application form from the agriculture department.
  • After that, feed all the information asked in the application form correctly and name ,mobile number, email ID etc.
  • Here you will have to attach your all documents related to Pradhanmantri fasal bima Yojana
  • After that submit this application form in agriculture Department
  • Here you will have to pay your Pradhanmantri fasal bima Yojana premium fee.
  • After that you will be given a reference number you will have to keep safe this reference number
  • This reference number helps you to check the status of yourPradhanmantri fasal bima Yojana application form.



A. Crop insurance Status 2023


  • First of all you will have to visit the official website of pradhana mantri fasal Bima yojana.
  • Now in front of you at the homepage you will click on the beneficiary list.
  • Now in front of you a new page open in which you will have to select your state.
  • After that you will have to select your district and after that select your block.
  • As soon as you select a block the beneficiaries list will be open in front of you.
  • You can see your name in this beneficiaries list.


B. Fasal Bima online 2023 documents

  • Farmer ID card
  • Ration Card
  • Aadhar card
  • Bank passbook
  • Driving license
  • Passport
  • Voter ID card
  • Field account number
  • Field khasra number paper
  • Applicant passport size photo
  • Crop initial date