Crop Insurance 

NAIS (National Agriculture Insurance Scheme). The scheme was introduced in 1999-2000. After 10 years in 2010-11, the scheme was modified as MNAIS. 

It became very popular but still, now some lakes were there I.e., High premium, less transparency, Share of farmers in premium, Dealy in insurance clam. 

To overcome the lakes the government of India (Ministry of Agriculture and Farmers Welfare) launched PMFBY (Pradhan Mantri Fasal Bima Yogna) on 18 February 2016.

Crops under this scheme: - 

1. All food crops (cereals, pulses & millets) 

2. Oil seed crops 

3. Annual Commercial / Horticulture crops 

Risks covered under this scheme: - 

• Preventing Sowing/ planting: If the farmer is unable to sow crops in a 75% insured area in this situation, he can claim 25% of total insurance. 

• Mid-season losses like locust attack farmers get a 25% claim of total insurance. 

• Standing Crop: (showing to harvesting): yield loss due to non-preventing risk I.e., Drought, flood, hailstorm, cyclone etc. 

• Post-harvest risk: only for special crops, where the post-harvest process is compulsory (for example Dring of mustard). Post-harvest loss is considered only 14 days after harvesting. 

• Add-on coverage: For this benefit farmers must pay an extra premium. It covers Animal attacks and local clematis. 

Premium: - 

      Kharif crops = 2% 

      Rabi crops = 1.5% 

      Annual commercial/horticulture crop = 5% 

      The last date of the premium 

          kharif season is 31st July  

          Rabi season is 31st December 

Premium calculator available on the PMFBY site.

15.5 thousand crores bouget is allocated in 2023 for PMFBY.