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The Pradhan Mantri Fasal Bima Yojana (PMFBY)

The Pradhan Mantri Fasal Bima Yojana (PMFBY)

The PM Fasal Bima Yojana (PMFBY) launched in 2016,  has completed 5 years in order to become “self-reliant farmers”.

Main objectives of the Scheme

  • The aim of PM Fasal Bima Yojana is to provide financial support to the farmers suffering from crop damages due to unforeseen events.
  • This scheme encourage farmers to adopt innovative and modern agricultural practices.
  • To maintain the income of farmers so that they can continue their farming.
  • To ensure flow of credit to the agriculture sector which contributes to food security, crop diversification, and enhancing growth and competitiveness of the agriculture sector besides protecting farmers from production risks.                                The Pradhan Mantri Fasal Bima Yojana (PMFBY)

Features of PMFBY

  • Improved and increased risk coverage for the insurance of crop cycle for losses occurred during pre-sowing and post-harvesting.
  • Using innovative technologies like satellite imagery, vegetation indices etc. coupled with the mandatory usage of smart phones / hand held devices for increasing the speed and accuracy during yield estimation. Remote sensing will be used to reduce the number of crop cutting experiments.
  • Many efforts & plans are made to increase the awareness among farmers regarding PMFBY so that maximum number of farmers can join and avail benefits of the scheme.
  • An online portal for Crop insurance has been launched to ensure improved administration, better transparency and coordination, and dissemination of information.
  • PMFBY facilitates the farmers to get their claim of the full sum insured without any reduction by taking off capping on premium provisions as well as other reductions on the sum insured.

According to the ministry, the scheme covers over 5.5 crore farmer applications year-on-year.

In a statement, the Union agriculture ministry said claims worth Rs 90,000 crore have so far been disbursed to farmers since the launch of the scheme on January 13, 2016.                      The Pradhan Mantri Fasal Bima Yojana (PMFBY)

The Government of India urges farmers to take advantage of the scheme by associating themselves to become self-sufficient in times of crisis and support the creation of an Aatmanirbhar Kisan.



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