PM-KISAN and PMFBY Schemes

Vocabulary flashcards summarizing the key details, eligibility, funding, and premium rates for PM-KISAN and PMFBY schemes.

PM-KISAN

Pradhan Mantri Kisan Samman Nidhi, a 100% Central Government funded scheme launched in 2018 (operational from 1 Dec 2018) under the Ministry of Agriculture and Farmers Welfare.

PM-KISAN Financial Assistance

Financial assistance of $₹ 6000$ per year transferred directly into the beneficiary bank account for landholding farmer families.

PM-KISAN Beneficiary Identification

Process conducted by State and UT governments to identify eligible farmer families, with mandatory eKYC.

PMFBY

Pradhan Mantri Fasal Bima Yojana, a crop insurance scheme launched in 2016 under the Ministry of Agriculture & Farmers Welfare to cover crop losses due to specified risks.

PMFBY Farmer Premium (Kharif)

Maximum premium rate of $2$% payable by farmers for Kharif crops under PMFBY.

PMFBY Farmer Premium (Rabi)

Maximum premium rate of $1.5$% payable by farmers for Rabi crops under PMFBY.

PMFBY Farmer Premium (Commercial/Horticultural)

Maximum premium rate of $5$% payable by farmers for annual commercial and horticultural crops under PMFBY.