Pradhana mantri Fasal bhima Yojana

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Prime Minister Narendra Modi has implemented many welfare schemes which have been beneficial to most Indians. India relies on the primary sector for its national income and most of the focus is on agriculture. In recent years its focus has shifted to the secondary and tertiary sectors. Farmers are living hardships due to extreme weather conditions. The Prime Minister presented the Fasal Insurance Scheme to save the farmers from distress and reduce the risk.

This scheme provides farmers with crop insurance at low premium prices. The suicide rate of farmers in India is alarming. This project will help to eradicate such disasters.

The main objectives of this project

  • Providing insurance and risk protection to farmers in the event of crop damage
  • Encouraging farmers to adopt innovative and modern farming practices. How does this project work? Under this scheme, farmers have to buy crop insurance and pay a fixed premium. The premium is fixed based on the crop and this should be done before the start of seed sowing. Farmers can continue their work as usual in their fields after the purchase of insurance. In case of crop damage due to any natural disasters or any event of their own, the farmer receives the sum insured (Sum Assured) from the insurance company. Many farmers in India are in debt to buy their own requirements such as sowing seed, fertilizer or other agricultural implements. Once the crop is destroyed, he is unable to pay off his debt and, due to stress, commits suicide. Under this scheme, the farmer receives a fixed sum insured in case of crop damage, which he can use to pay off his debts, resulting in the survival of his brood. In this way the loss of crop damage to the farmer will be reduced and he will be able to lead a better life.

What are the eligibility criteria required for this project?

The terms and qualifications relating to the Fasal Insurance Scheme are as follows: –

The farmer must be an Indian citizen and an Indian resident.

  • The farmer should grow Ravi, Monsoon or other commercial crops or horticultural crops.
  • The farmer should cultivate crops as specified by the Ministry of Agriculture of the respective province. Depending on the land and climate of the area, the crop is indicated. This will reduce crop damage.
  • Any kind of financial assistance will be given only to farmers who have applied for the Fasal Insurance Scheme.
  • The farmer can claim insurance for damages caused by natural disaster or pest damage.
  • – Other natural disasters such as natural fire, drought, storm, water damage, flood and pest damage can be remedied.
  • Farmers who have a central government farm account are eligible for insurance under this scheme without any verification.

What are the benefits of this project? The following benefits are available under this Fasal Insurance Plan:

  • This scheme offers insurance at very low premium rates compared to other insurance companies.
  • If there is any damage to the crop after harvesting the crop it will be remedied.
  • The project promises to provide cash flow in the agricultural sector.
  • This scheme promises to deliver profit transfers directly to the public, so the level of transactions and corruption is very high.
  • It enables the government to deliver the benefit of the project directly to the public by preventing any leaks that may occur in the event of payment of subsidies or insurance.

How to apply for this project?

The process of applying for this scheme is very simple and farmers can easily apply by following these steps. Prime Minister Fazal Bima should log in to the project website. After loading the website you should go to the Farmers Applications section. It will direct you to the application page. The next page should fill in the application. Originally asked to enter their personal details and bank account details on this page. Then click on the Save and Continue button at the bottom of the page and enter the details. After filling in the details of the land and paying the specified premium amount, the computer will generate a tracking no. The application can be modified later if anyone has made mistakes or changes.

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