JAMMU: The Pradhan Mantri Fasal Bima Yojana (PMFBY), implemented in Jammu and Kashmir since the Kharif season of 2017, has seen a significant increase in both premiums collected and claims settled over the years. The insurance scheme, aimed at providing financial security to farmers against crop losses due to natural calamities, has expanded its reach, though district-wise coverage has fluctuated. The steady rise in claims and payouts underscores its growing importance, but concerns persist over delayed settlements and inconsistent implementation across districts.
In its inaugural year, PMFBY covered 1,58,972 farmers across 10 districts—Kathua, Samba, Jammu, Reasi, Udhampur, Ramban, Doda, Kishtwar, Poonch, and Rajouri—with a total insurance premium of Rs 7.82 crore. By 2018-19, the number of insured farmers dropped to 1,53,772, with coverage limited to only four districts—Jammu, Samba, Udhampur, and Anantnag.
A major setback came in 2021-22 and 2022-23, when coverage was again restricted to just four districts, insuring around 90,834 and 91,582 farmers, respectively. However, a significant expansion took place in 2023-24, when all 20 districts were included, bringing the number of insured farmers to 2,45,628. The trend continued in 2024-25, with 2,08,538 farmers insured across all districts except four, which were not covered in the Rabi season.
The scheme covers multiple crops, with paddy, maize, and wheat being the most insured. In 2017-18, 39,101 paddy farmers, 49,745 maize farmers, and 7,012 wheat farmers were insured. By 2023-24, the number had increased significantly, with 69,549 paddy farmers, 78,811 maize farmers, and 37,070 wheat farmers opting for coverage. Oilseeds were also added under the scheme, further expanding its scope.
The insurance premiums have also increased alongside coverage. In 2018-19, premiums stood at Rs 5.66 crore. By 2021-22, they had risen to Rs 11.87 crore, and in 2023-24, the premium amount peaked at Rs 34.90 crore.
Multiple insurance companies have been involved in implementing PMFBY in Jammu and Kashmir. Reliance General handled coverage in 2017-18, followed by ICICI Lombard in 2018-19, and Oriental Insurance in 2021-22. In subsequent years, IFFCO-Tokio and AIC of India have also been engaged.
The rising premiums have been matched by an increase in claims and payouts. In 2017-18, Reliance General settled 10,232 claims, disbursing Rs 2.66 crore to farmers. In 2018-19, ICICI Lombard settled 8,513 claims, with payouts of Rs 3.28 crore. By 2022-23, Reliance General and IFFCO-Tokio settled 12,914 claims, distributing Rs 72.91 crore and Rs 43.12 crore, respectively.
As PMFBY continues in 2024-25, the government has pledged to streamline claim settlements and ensure broader district coverage. While the scheme has provided crucial financial relief to farmers, issues such as delays in payouts and inconsistent district participation remain challenges. However, with increased farmer participation, rising premium collections, and higher claim settlements, PMFBY remains a key component of agricultural risk mitigation in Jammu and Kashmir.
