Insurance claims of 1.64 lakh crore have been paid to farmers against Rs 32,440 crore premium paid under the Pradhan Mantri Fasal Bima Yojana. The Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced in the country in the Kharif 2016 season and is voluntary for the states. Though the scheme is voluntary for the farmers, non-loanee farmers’ coverage has increased to 55 per cent of the total coverage under the scheme during 2023-24, which shows the voluntary acceptability/popularity of the scheme.
Pradhan Mantri Fasal Bima Yojna (PMFBY) aims to provide a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers. The scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield data is available and for which requisite number of crop cutting experiments are being conducted under General Crop Estimation Survey.
Presentation- Dibyabharati Nayak
