Pradhan Mantri Fasal Bima Yojana (PMFBY) will be applicable for four crops during the current kharif season for paddy, sugarcane, groundnut and bajra.
The Central government released guidelines on PMFBY, in this backdrop the district administration released a press note here on Wednesday. Farmers can pay premium for PMFBY for current kharif season online or demand draft.
Sugarcane, groundnut and bajra farmers should pay premium by July 31 and paddy farmers can pay their premium till August 21, said joint director for agriculture department G Rama Rao. National insurance company will implement PMFBY to farmers if they their crops were destroyed due to natural calamities.
Premium amount per hectare is Rs 4,245 and per acre is Rs 1,698. Of it, the government will pay Rs 2,745 per hectare and Rs 1,098 per acre. Farmers can utilise the facility to overcome from loss due to natural calamities, the JDA said.