Pradhan Mantri Fasal Bima Yojana

Recently, the state of Andhra Pradesh has decided to rejoin the Pradhan Mantri Fasal Bima Yojana (PMFBY) from the ongoing Kharif season.

  • Keeping in view the suggestions of Andhra Pradesh and other states, the Central Government revamped the scheme in February 2020 with new features such as-
    • voluntary enrolment for all farmers
    • wider use of technology in yield estimation
    • risk coverage to choose for payment of sum insured to the States as per the option
    • prevailing risk profile and a provision of 3% was made for administrative expenses.

About PMFBY

  • Launched in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is a large-scale crop subsidy ....
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