The Pradhan Mantri Fasal Bima Yojana (PMFBY) aims to provide financial protection to farmers affected by natural calamities. Recently, compensation for the 2024 Kharif and 2024-25 Rabi seasons has been credited to farmers' accounts. However, many farmers are dissatisfied, claiming their payouts are significantly lower than their actual crop losses.
Farmers from various regions, such as Khandwa in Madhya Pradesh, report receiving minimal claims. One farmer, after paying nearly ₹30,000 in premiums, received only ₹1,274 for his soybean crop, which he valued at around ₹7 lakh due to complete damage from poor rainfall. This disparity has raised concerns among farmers about the adequacy of compensation.
Under PMFBY, farmers pay a nominal premium: 2% for Kharif crops, 1.5% for Rabi crops, and 4% for commercial crops, with the remaining costs covered by the central and state governments. Compensation is calculated using a specific formula based on threshold and actual yields.
For instance, if the threshold yield is 2240 kg per hectare and the actual yield is 3000 kg, the claim would result in a compensation of ₹6,785 per hectare. If farmers feel their payouts are insufficient, they can lodge complaints through various channels, including the PMFBY Helpline (14447) or their local agricultural center.
Filing complaints is crucial for highlighting under-compensation issues and improving the system for all farmers. The PMFBY was created to support farmers during crises, and raising concerns ensures that their voices are heard. If you've received less than expected, take action to secure your rightful compensation.
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