Pradhan Mantri Fasal Bima Yojana Completes Five Years

On 13th January, 2021, the flagship crop insurance scheme- Pradhan Mantri Fasal Bima Yojana (PMFBY), completed five years of its launch.

Need

  • India is an agrarian country and any losses to the livelihood of farmers due to weather vagaries during the crop cycle, makes it almost impossible for farmers to protect their crops against unforeseen natural calamities.
  • In such circumstances, it is necessary to provide a comprehensive risk mitigation solution in the form of insurance to protect the farming community from the impact of these events.

Pradhan Mantri Fasal Bima Yojana (PMFBY)

  • Launched on 13th January 2016, it replaced ....
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