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Key Highlights * Launched in 2016, PMFBY offers financial protection against crop losses for notified crops. * Premium share capped at 2% for Kharif, 1.5% for Rabi, and 5% for annual commercial/horticultural crops. * Coverage extends from sowing to post‑harvest, including localised calamities and specified post‑harvest losses. * Enrolment, premium calculation and loss reporting are facilitated through the National Crop Insurance Portal. * Eligibility covers individual, sharecropper and tenant farmers with insurable interest in notified crops. Detailed Insights PMFBY was introduced by the Ministry of Agriculture and Farmers Welfare to mitigate the financial impact of crop damage caused by natural calamities, adverse weather, pests, and diseases. The scheme operates under a public‑private partnership model, where the government subsidises the majority of the actuarial premium while farmers pay a modest share. Premium rates are determined by crop type, season, and state notification. Farmers can compute their exact premium using the online calculator on the official portal. The scheme also incorporates technology platforms such as YESTECH, WINDS, and the Crop Loss Assessment Platform (CLAP) to enhance yield estimation and loss assessment. To enrol, farmers must register on the PMFBY portal, submit required documents (Aadhaar, bank passbook, land records, sowing certificate, etc.), and pay the calculated premium through authorised channels like banks or CSCs. Losses must be reported within 72 hours for localised risks, and the portal provides a dedicated crop‑loss reporting interface. While PMFBY is not a cash‑transfer scheme, it plays a pivotal role in stabilising farmers’ income and encouraging the adoption of modern agricultural practices. Key Concepts * Notified Crop: A crop listed in the state notification that is eligible for coverage under PMFBY. * Insurable Interest: The legal right of a farmer to insure a crop, typically held by the owner, sharecropper, or tenant with proper documentation. * Localised Calamity: A disaster affecting a specific area, such as a flood or pest outbreak, covered under special provisions. * Post‑Harvest Loss: Losses occurring after harvest, such as during storage or transport, that are covered if they meet scheme conditions. * Premium Share: The portion of the total premium paid by the farmer, capped at specified percentages for different crop seasons.

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