Risks And Calamities Covered Under PMFBY

Key Highlights:

• The Pradhan Mantri Fasal Bima Yojana (PMFBY), introduced in 2016-17, is a voluntary scheme for states and farmers.
• It offers comprehensive risk insurance against non-preventable natural risks from pre-sowing to post-harvest.
• Losses due to wild animals, initially excluded, can now be covered as an add-on by states at their own cost.
• Inundation is a covered risk for all notified crops under the scheme.

Detailed Insights:

• The inclusion of wild animal damage as an add-on cover followed requests from the Ministry of Environment, Forest and Climate Change and State Governments.
• A detailed protocol for this add-on coverage is provided in the Operational Guidelines of the PMFBY.
• For hydrophilic crops such as paddy, jute, mesta, and sugarcane, inundation cover is available, except in cases of localized claims.
• The scheme aims to provide financial support to farmers suffering crop loss or damage due to unforeseen events.

Key Concepts Involved:

• Pradhan Mantri Fasal Bima Yojana (PMFBY): A government-sponsored crop insurance scheme providing financial support to farmers suffering crop loss/damage due to unforeseen events.
• Hydrophilic Crops: Crops that thrive in or require a large amount of water for growth, such as paddy and jute.
• Non-preventable Natural Risks: Unforeseen natural events like drought, flood, hailstorm, and landslides that cause crop damage.