What is crop insurance premium in India?
I have 10 acres of land and I want to enroll for PMFBY. What is the premium for Fasal Yojana Scheme?
The premium under PMFBY/Fasal Bima Yojana depends on crop and season.
- Kharif crops: food grain and Oilseed crops (all Cereals, Millets, Pulses and Oilseed crops), 2.0% of SI or Actuarial rate, whichever is less.
- Rabi Crops: All food grain and Oilseed crops (all Cereals, Millets, Pulses and Oilseed crops), 1.5% of SI or Actuarial rate, whichever is less
- For Annual Commercial / Annual Horticultural crops: 5% of SI or Actuarial rate, whichever is less
The premium rates might change over time to time and farmers should consult the concerned bank for latest information