PM Fasal Bima Yojana (PMFBY) Sees a Remarkable 36% Surge in Insured Non-Loanee Area during 2022-23 highest in 5 years.
The non-loanee area, the gross cropped area for which farmers have not taken any loan from bank or other financial institutions .According to the data available with Ministry of Agriculture and Farmers’ Welfare, non -loanee area has jumped to 180 lakh hectares during crop year 2022-23 under the PM Fasal Bima Yojana (PMFBY),which is 70 per cent higher as compared to 106 lakh hectares during 2021-22.
This table provide information about percentage of non-loanee area in the total insured area under the PM Fasal Bima Yojana (PMFBY) for the specified fiscal years
| Â Year | Non-Loanee Area (%) |
|---|---|
| 2022-23 | 36.07 |
| 2021-22 | 23.93 |
| 2020-21 | 24.52 |
| 2019-20 | 22.38 |
| 2018-19 | 24.3 |
PM Fasal Bima Yojana : Loanee and Non- loanee area:
The below table shows the decrease in loanee area from year 2018 to 2023:
|  Year   | Loanee Area (in lakh hectares) | Non-Loanee Area (in lakh hectares) |
|---|---|---|
| 2018-19 | 406 | – |
| 2019-20 | 444 | – |
| 2020-21 | 354 | – |
| 2021-22 | 336 | – |
| 2022-23 | 320 | – |
The NDA government launched the PMFBY in 2016 from kharif, after implementation the government made some changes with effect from October 1, 2018. The government revamped the scheme’s operational guidelines, and the revised guidelines came into effect from kharif 2020.
Initially the scheme was compulsory for loanee farmers. The loanee farmer possess a crop loan account/Kisan Credit Card (KCC) account to whom credit limit is sanctioned/renewed for the notified crop during the crop season. Starting from Kharif 2020, the participation in the loanee area was made voluntary, which explains the notable drop in the loanee area.
The below table shows the loan interest on crop :
| Crop Category | Premium Rate under PMFBY |
|---|---|
| Kharif Food and Oilseeds Crops | 2% of sum insured or actuarial rate (whichever is less) |
| Rabi Food and Oilseeds Crops | 1.5% of sum insured or actuarial rate (whichever is less) |
| Kharif and Rabi Annual Commercial/Annual Horticultural Crops | 5% of sum insured or actuarial rate (whichever is less) |
In kharif 2023, the scheme is notified by 21 states and Union Territories, covering 29 agricultural crops and 59 horticultural crops. In kharif 2022, the scheme covered 33 agricultural crops and 52 horticultural crops and was notified by 20 states and Union Territories.
Experts said the steady decrease in loanee area and rise in non-loanee area under the PMFBY indicates growing acceptance of the PM Fasal Bima Yojana scheme.
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