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PM Fasal Bima Yojana: You can easily know the amount of your premium

PM Fasal Bima Yojana: You can easily know the amount of your premium

PM Fasal Bima Yojana: You can easily know the amount of your premium

The last date for insurance of Rabi crops under the Pradhan Mantri Fasal Bima Yojana has now been extended to 31 December. Now by taking advantage of this scheme, farmers can save their crops from getting spoiled in natural calamities.

When the crop is sown in the field one is not sure that the expected yield will be there. The crop is sometimes eaten by animals, sometimes the crop is destroyed by natural calamities, storms, hailstorms and floods.

PM Fasal Bima Yojana: You can easily know the amount of your premium

Due to this, there is a lot of economic loss to the farmers, to compensate for which the farmer has to take loans from place to place. Due to this, the financial situation becomes very bad.

Keeping this in mind, this plan has been made. By joining this scheme, more and more farmers should get their crops insured. Farmers can take advantage of this scheme by paying the minimum premium.

Know the amount of premium like this

  • First of all, go to the official website of this scheme https://pmfby.gov.in/.
  • An option named Insurance Premium Calculation will appear on the main page of the website.
  • The applicant has to select this option.
    After this, information related to harvest time, plan, state, district and crop will be asked.
  • Fill all this information and select the option to save.
  • Now you will get to see both your premium and claim amount.
  • How much is the premium to be paid?
  • According to agriculture officials, farmers have to pay only 1.5 to 2 per cent of the total premium on most crops.
  • Some crops have to pay a premium of five per cent.
  • The remaining premium amount is borne by the central and state governments.

Who decides the amount of insurance?

  • According to the central government, the amount of premium in the scheme is decided by the state governments. The state government decides in the report of the technical committee of its district.
  • After that, the amount of premium is decided. This team consists of the District Magistrate, Agriculture Officer, representative of Meteorological Department, farmer leaders and insurance company officials.
  • Whatever their report is prepared, the amount is decided based on that.

Navya Chandravanshi

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AUTHORNishant Chandravanshi

Nishant Chandravanshi is the founder of The Magadha Times & Chandravanshi. Nishant Chandravanshi is Youtuber, Social Activist & Political Commentator.

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