Fasal Bima Yojana: Do farmers get insurance in case their crops fail, know the details!

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Farmers, who play a vital role in feeding millions of people across the country, cultivate various crops throughout the year and these crops ultimately reach our kitchens.

It is often seen that the crops grown by farmers get destroyed due to various reasons like heavy rains, floods or hailstorms.

This is the only source of income for farmers and leads to significant losses when cultivated crops are ruined after several weeks of hard work.

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To protect farmers from such losses, the central government runs a scheme called Pradhan Mantri Fasal Bima Yojana. Under this scheme, farmers are provided insurance coverage for crop damage.

According to this scheme, in the event of crop loss, the entire value of the produce is compensated as insurance. The premium for Kharif crops is a maximum of 2%, while for all other crops, it can go up to 5%. The remaining premium amount is covered by the government.

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Assessment is done after the loss of crops and if there is an actual loss then the full insurance amount is provided without any deduction.