Farmers to Get Rs 36,000 Compensation for Wheat Crop Loss Under PM Crop Insurance Scheme

Key Highlights

• Compensation of Rs 36,000 per hectare for wheat crop loss.
• Premium rate is 1.5% of the insured amount.
• Last date for crop insurance: 31 December 2024.
• Required documents include Aadhar, land papers, and sowing certificates.
• Covers losses from natural calamities, pests, and post-harvest damage.

Farmers across the country who are currently sowing wheat, gram, and other Rabi crops can now secure their crops under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The scheme compensates farmers for crop losses caused by natural disasters and other risks. The government has started the process of crop insurance registration for the Rabi season 2024-25, and farmers can get their crops insured until 31 December 2024.

Also Read: Rabi Crop Sowing Crosses 428 Lakh Hectares: A Strong Start to 2024-25 Season

How Much Compensation and Premium for Rabi Crops?

According to officials in Madhya Pradesh's Katni district, the premium rates and compensation for various Rabi crops under the PMFBY are as follows:

• Wheat (Irrigated):

  • Compensation: Rs 36,000 per hectare
  • Premium: Rs 540 per hectare

• Gram:

  • Compensation: Rs 37,300 per hectare
  • Premium: Rs 560 per hectare

• Lentil:

  • Compensation: Rs 26,400 per hectare
  • Premium: Rs 393 per hectare

• Rye and Mustard:

  • Compensation: Rs 20,000 per hectare
  • Premium: Rs 300 per hectare

Farmers need to pay only 1.5% of the total insured amount as a premium for cereals, pulses, and oilseed crops.

Required Documents for Rabi Crop Insurance

To get their Rabi crops insured, farmers need to submit the following documents:

1. Identity Proof (e.g., Aadhar Card)
2. Land ownership papers or an affidavit if the land is in a sharecropper's name
3. Farmer's loan book (if applicable)
4. Bank account details
5. Sowing certificate

Where and How to Get Crop Insurance?

• Indebted Farmers: Farmers who have taken crop loans can get insurance from the same bank.
• Non-Indebted Farmers: They can apply through:
  • Banks offering crop loans
  • Cooperative societies
  • Common Service Centers (CSCs) at Gram Panchayat levels

Farmers should apply for crop insurance before 31 December 2024.

Also Read: KYC Update: Farmers Should Complete KYC Today, Deadline is 31 December 2024

Important Points to Remember While Insuring Crops

1. Provide Accurate Details: Farmers must report the correct area and type of crops sown during the Rabi season.
2. Proof of Ownership: If the farm is owned, submit land records (Khasra). If it is rented or shared, a contract letter or owner declaration is required.
3. Proof of Sowing: If crops are already sown, get a certificate from village authorities like the Sarpanch, Patwari, or Gram Pradhan.
4. Declaration Form: If offline inspection is unavailable, farmers can submit a self-declaration form, available for download online.

What Risks are Covered?

The PMFBY covers losses due to:

• Natural calamities (e.g., floods, droughts, storms)
• Pest and disease attacks
• Post-harvest losses

What is Not Covered?

• Deliberate damage, such as setting fire to fields
• Losses caused during war or negligence

Optional and Mandatory Insurance

• For farmers without loans, insurance is voluntary.
• For farmers taking crop loans, insurance is mandatory under this scheme.

By securing their crops under the Pradhan Mantri Fasal Bima Yojana, farmers can protect themselves from unexpected losses and ensure their financial stability during tough times.

Also Read: Solis Yanmar Showcases New Tractors at Kisan Agri Show 2024

CMV360 Says

The Pradhan Mantri Fasal Bima Yojana offers vital financial protection to farmers against crop losses caused by natural calamities and other risks. With affordable premiums and substantial compensation, farmers can secure their Rabi crops like wheat, gram, lentil, and mustard. By ensuring timely insurance before 31 December 2024, farmers can safeguard their hard work and livelihood effectively.