Crop insurance money has been released for 30 lakh farmers. Check the account
PM Fasal Bima Yojana: Under the Pradhan Mantri Fasal Bima Yojana, insurance payment has started to farmers for Rabi crops in 2025. Madhya Pradesh Chief Minister Shivraj Singh Chouhan and Rajasthan Chief Minister Bhajanlal Sharma distributed compensation amount to the farmers to compensate for the loss caused by natural disaster. The objective of this scheme is to reduce the income security of farmers, agricultural risk management and the impact of natural disasters. This will increase stability in the agriculture sector and reduce the financial burden of farmers.
PM Fasal Bima Yojana: The Central Government on Monday released the first installment of Rs 3,200 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY). This will directly benefit about 30 lakh farmers of the country. Union Agriculture and Farmers Welfare Minister Shivraj Singh Chouhan and Rajasthan Chief Minister Bhajanlal Sharma transferred this amount to the accounts of the farmers by pressing the remote button from Jhunjhunu. This installment is specifically for the insurance claim of Rabi crop. On this occasion, about 35,000 farmers from Rajasthan were present in the program, while farmers from 23 states of the country joined virtually.
Next installment of Rs 8,000 crore soon
Union Minister Chauhan said that this is only the first installment. After this, Rs 8,000 crore more will be released. He assured the farmers that those whose accounts have not received the amount today need not worry, as further payments will be made.
Strict rules on insurance companies
Union Minister Shivraj Singh Chauhan announced that if an insurance company does not make payment within the stipulated time limit after the claim, then a penalty of 12% interest will be imposed on it. This interest amount will be deposited directly into the farmers' account. He said that this scheme is a boon for the farmers affected by natural disasters and the government will help them in every possible way.
Commitment to the welfare of farmers
In his address, Minister Chouhan told the farmers, "Farmer brothers and sisters, serving you is like worshipping God for me. If you have any complaint related to the crop insurance scheme, please inform me. We are always with you." He said that Prime Minister Narendra Modi started this scheme to protect farmers from the economic impact of natural disasters.
9th anniversary of the scheme
The Pradhan Mantri Fasal Bima Yojana will celebrate its ninth anniversary on 18 February 2025. Launched in 2016, the scheme provides comprehensive insurance cover against crop losses due to floods, drought, cyclones, hailstorms, unseasonal rains, pests and diseases. It keeps the income of farmers stable and encourages them to adopt new farming techniques.
Scheme extended till 2025-26
In January 2025, the Union Cabinet approved the continuation of the PM Crop Insurance Scheme and the Restructured Weather Based Crop Insurance Scheme till 2025-26 with a budget of Rs 69,515.71 crore. Even though the scheme is voluntary, the coverage of non-loanee farmers reached 55% in 2023-24, which shows its popularity.
Last date of application
Non-loanee farmers: Last date for application for Kharif crop 14 August 2025
Loanee farmers: Last date 31 August 2025
Farmers who are not yet connected with this scheme have been advised to apply in time.
Application process for PM Crop Insurance Scheme
Under the PM Crop Insurance Scheme, farmers are compensated for crop damage due to natural disaster. To apply, farmers can go to their nearest bank, Common Service Center (CSC) or authorized agent and fill the form. Online application is also available on the official website of PM Crop Insurance Scheme.
Documents required for crop insurance
Passport size photo
Copy of bank passbook
Aadhar card
Identity card
Farm papers
Crop declaration
Importance of the scheme
Farmers get financial security from natural disasters.
Compensation is received on time in case of crop loss.
Investment in agriculture and adoption of technology is encouraged.
Farmers' income becomes stable.
This step will provide direct financial help to 30 lakh farmers and in the coming time, this scheme will play an important role in strengthening the economic condition of farmers. The objective of the government is that no farmer should get trapped in debt and crisis due to natural disaster.
Disclaimer: India Employment News does not give any suggestion for any purchase or sale related to the stock market. We publish market related analysis quoting market experts and brokerage companies. But take market-related decisions only after consulting certified experts.
