Understanding Crop Insurance in Kerala and Maharashtra

Sangeeta Soni 15 August, 2020 2:25 PM IST

In Maharashtra and Kerala, the following Insurance schemes are applicable.

Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojna is the flagship scheme of the government for Crop Insurance in India. This Insurance is in line with ONE NATION-ONE SCHEME theme. This Insurance aims at supporting sustainable production in the agriculture sector by providing financial support to farmers suffering crop loss arising out of unforeseen events and encouraging farmers to adopt innovative and modern agricultural practices.

In this, Uniform maximum premium for all farmers is-

Kharif season- 2% of sum insured
Rabi season- 1.5% of sum insured
Annual commercial/horticultural crops- 5% of sum insured

For more information, visit https://pmfby.gov.in/.

Restructured Weather-based Crop Insurance Scheme

The aim of the Weather Based Crop Insurance Scheme is to detract the hardship of insured farmers against the likelihood of financial loss on account of anticipated crop loss due to adverse weather conditions relating to rainfall, temperature, wind, humidity etc. This scheme uses weather parameters as proxy for crop yields in compensating the cultivators for deemed crop losses.

Who are eligible for Crop Insurance?

All the farmers who are working in the notified area and are growing notified variety of crops are eligible.
The policy is available to all the farmers whether they are tenant farmers or sharecroppers.
Farmers must have an insurable interest in the insured crop.
Farmers who have availed Seasonal Agricultural Operations loans are also covered mandatorily.
If the farmers are non-loanee, it’s their choice if they want coverage or not.
Non-loanee farmers need to provide land evidence records.
This policy is applicable to all farmers having land in the identified area.