Pradhan Mantri Fasal Bima Yojana

Record Enrolment and Growth

  • Farmer enrolment under PMFBY reached a record 40 million in 2023-24, a 27% increase from 31.5 million in FY23.
  • Since its launch in 2016, the scheme has provided Rs. 500 in claims for every Rs. 100 of premium paid, benefiting 23.22 crore farmer applicants.

Scheme Overview

  • Centrally sponsored, demand-driven scheme offering comprehensive crop insurance from pre-sowing to post-harvest.
  • Voluntary for states and farmers, including sharecroppers and tenant farmers.
  • Covers food crops, oilseeds, and annual commercial/horticultural crops.
  • Subsidized premium rates:
    • 2% for Kharif crops
    • 1.5% for Rabi crops
    • 5% for commercial/horticultural crops

Technology-Driven Enhancements

  • DigiClaim: Claim settlement via National Crop Insurance Portal.
  • CROPIC: Real-time ....
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