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1. INDIRA GANDHI KRISHI VISHWAVIDYALAYA RAIPUR,(C.G) COLLEGE OF AGRICULTURE, RAIPUR MASTER’S SEMINAR (EXT-591) ON PRADHAN MANTRI FASAL BIMA YOJNA PRESENTED BY..., SHIVANI M.Sc.(Ag) PREVIOUS DEPARTMENT OF AGRICULTURAL EXTENSION

2. Introduction Objective of the scheme Coverage of the farmer Coverage of Crops Coverage of Risks and Exclusions Operation of the scheme Unit o f Insurance Premium Rates Use of Technology to remove area discrepancy in coverage. Assessment of Claims Sharing of Risk Conclusion Reference CONTENT:-

3. Scheme was launched in India by the ministry of agriculture and farmers welfare, New Delhi from 18 February 2016. 21 st a t es i m plemen t ed th e scheme in Kha r if 2 016 whereas 23 states and 2 UTs have implemented the scheme in Rabi 2016-17. PMFBY provides a comprehensive insurance cover against failure of the crop thus helping in stabilizing the income of the farmers. INTRODUCTION:-

4. PMFBY aims at supporting sustainable production in agriculture sector by – P roviding financial support to farmers suffering crop loss/damage arising out of unforeseen events. S tabilizing the income of farmers to ensure their continuance in farming. E ncouraging farmers to adopt innovative and modern agricultural practices. Objective of the scheme:-

5. The scheme is compulsory for loanee farmers availing Crop Loan /KCC account for notified crops and voluntary for other others. The non- loanee farmers are required to submit necessary documentary e vidence of land records prevailing in the State (Records of Right ( RoR ),Land possession Certificate (LPC) etc.) and/ or applicable contract/ agreement details/ other documents notified/ permitted by concerned State Government (in case of sharecroppers/ tenant farmers). Coverage of the farmer:-

6. Food crops (Cereals, Millets and Pulses) Oilseeds Annual Commercial / Horticultural crops The scheme can cover all the crops for which past yield data is available and grown during the Notified Season, in a Notified Area. Coverage of Crops:-

7. Following stages of the crop and risks leading to crop loss are covered under the scheme. a. Prevented Sowing/ Planting Risk. b. Standing Crop (Sowing to Harvesting) c. Post-Harvest Losses. d. Localized Calamities. 2 . General Exclusions: Losses arising out of war and nuclear risks, malicious damage and other preventable risks shall be excluded. Coverage of Risks and Exclusions:-

8. The scheme will be implemented by AIC and other private general insurance companies. Sele c tio n of Imp l em e nti n g A g ency ( IA ) w i l l be done b y the concerned State Government through bidding. The existing State Level Co-ordination Committee on Crop Insurance (SLCCCI), Sub-Committee to SLCCCI, District Level Monitoring Committee (DLMC) shall be responsible for proper management of the Scheme Operation of the scheme:-

9. The Scheme shall be implemented on an 'Area Approach basis'. The unit of insurance shall be Village Panchayat level for major crops. The loss assessment for crop losses due to non- preventable natural risks will be on area approach. In case of majority of insured crops of a notified area are prevented from sowing/ planting the insured crops due to adverse weather conditions that will be eligible for indemnity claims up to maximum of 25% of the sum-insured. Unit o f Insurance:-

10. S.N Season Crops Maximum Insurance charges payable by farmer (% of Sum Insured) 1 Kharif All foodgrain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops) 2.0% of SI or Actuarial rate, whichever is less 2 Rabi All foodgrain and Oilseeds crops (all Cereals Millets, Pulses and Oilseeds crops) 1.5% of SI or Actuarial rate, whichever is less 3 Kharif and Rabi Annual Commercial/ Annual Horticultural crops 5% of SI or Actuarial rate, whichever is less Premium Rates:-

11. It is noticed that in some instances in States/districts, area insured is much more than area sown figures resulting in reduction of sum insured and consequently reduction in claims of farmers. Use of RST/ satellite imagery, digitization of land records may be promoted to minimize the area discrepancy. Use of Technology to remove area discrepancy in coverage:-

12. ‘ Claim’ shall be calculated as per the following formula: Where, Threshold yield for a crop in a notified insurance unit is the average yield of past seven years (excluding a maximum of two calamity year ( as notified by State Government/ UT) multiplied by applicable indemnity level for that crop. Assessment of Claims:-

13. The difference between premium rate and the rate of Insurance charges payable by farmers shall be treated as Rate of Normal Premium Subsidy, which shall be shared equally by the Centre and State. The liability of the Insurance companies in case of catastrophic losses computed at the national level for an agricultural crop season, shall be up to 35% of total premium collected (farmer share plus Govt. subsidy) or 35% of total Sum Insured (SI), of all the insurance companies combined, whichever is higher. The losses at the national level in a crop season beyond this ceiling shall be met by equal contribution (i.e. on 50:50 basis) from the Central Government and the concerned State Governments. Sharing of Risk:-

14. The prime objective of crop insurance is not only giving farmers the financial assistance but also raising their moral so as they can adopt new technologies for their and country's prosperous growth. Success of any government scheme depends on its sincere implementation. The key problem such as poor land records, flawed land titles, corruption etc are common challenges any crop insurance scheme in India face. Further the success of the scheme is depend on how sincerely it is implemented by the insurance companies. Further we need to wait and watch a s to how the scheme is monitored and supervised. Conclusion:-

15. http://nationalisurance.nic.co.in https://pmfby.gov.in https://www.ibedf.org REFERENCE:-