- Over 78.4 crore farmer applications insured under Pradhan Mantri Fasal Bima Yojana with claims of Rs. 1.83 lakh crores paid.
- Use of National Crop Insurance Portal and Digiclaim Module helps quick and clear compensation payments.
- More farmers covered thanks to growing competition among insurers, lowering premium rates and improving services.
Since 2016, payment of compensation under Pradhan Mantri Fasal Bima Yojana (PMFBY) has made big progress, helping crores of farmers across India. With new technology and close government-insurer cooperation, the scheme makes sure claims are settled on time and clearly. This article shares important updates and insights on PMFBY’s compensation process, helping you know how this important scheme works to protect farmers’ incomes.
How Compensation Works under Pradhan Mantri Fasal Bima Yojana
From the start of PMFBY in 2016 until June 30, 2025, an amazing 78.407 crore farmer applications have been insured under this main crop insurance scheme. Out of these, 22.667 crore farmers got compensation claims totaling Rs. 1.83 lakh crores, showing the wide coverage and effect of the scheme. These numbers show the government’s promise to give financial security to farmers facing crop losses from natural disasters and other challenges.
Technology Helping Fast and Clear Claim Payments
To make claim payments faster and clearer, PMFBY has added several advanced digital tools.
- National Crop Insurance Portal (NCIP): A single platform that acts as the data center for the scheme. It helps with online farmer registration, subsidy payment coordination, and electronic transfer of claim amounts directly to farmers’ bank accounts.
- Digiclaim Module: Running since Kharif 2022, it tracks claim payments by connecting NCIP, the Public Finance Management System (PFMS), and insurance companies’ accounting systems, letting claim payments be monitored in real-time and keeping things accountable.
Other tech tools include the CCE-Agri App for gathering crop cutting experiment data, connected with NCIP, and linking state land records to the platform to make sure crop details are verified accurately. These steps speed up claim settlements and improve accuracy, giving you a smooth process.
Roles of Government and Insurance Companies in Claim Payments
Teamwork is very important in PMFBY’s success:
- Government organizations set the policy rules, make sure states deposit premiums on time using required ESCROW accounts, and watch over claim procedures.
- Insurance companies, both public and private, handle claim payments, manage risk pooling, and operate under strict rules including penalties for late payments.
Separating central and state premium subsidy shares means compensation is shared fairly, giving you clear information on your claim rights. This means you get your compensation quickly without delays from red tape.
Key Policies to Protect Farmers
To protect farmers, PMFBY has rules like a 12% penalty automatically added through NCIP on any delay in claim payments by insurance companies. This discourages delays and makes sure you receive compensation without hold-ups.
Improved operations now include direct online farmer registration and better data clarity to build trust in the scheme’s process.
Growing Coverage and Competition for Better Services
PMFBY’s reach has grown a lot, with farmer applications jumping from 371 lakhs in 2014-15 to 1510 lakhs in 2024-25. Non-loanee farmers now make up a big part, rising from 20 lakhs to 522 lakhs in the same period, showing wider inclusion.
The mix of private insurance firms alongside public ones has increased competition, lowering premium rates and improving service quality. For you, this means cheaper insurance choices and better claim experiences compared to older schemes.
| Scheme Feature | Data/Details |
|---|---|
| Farmer Applications Insured (2016-2025) | 78.407 Crore |
| Claims Paid | 22.667 Crore Farmers |
| Total Compensation Paid | Rs. 1.83 Lakh Crores |
| Increase in Farmer Applications (2014-15 to 2024-25) | From 371 Lakhs to 1510 Lakhs |
| Non-loanee Farmer Applications | 20 Lakhs to 522 Lakhs |
| Penalty on Delayed Claims | 12% (Automatically calculated via NCIP) |
| Official Portal | https://pmfby.gov.in |
Updates shared by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in Rajya Sabha, highlight ongoing work to improve PMFBY for every farmer’s benefit. Knowing about these updates helps you to make full use of the scheme and protect your agricultural income.