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Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana – PMFBY

Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance scheme in India launched in 2016.

The objective of the scheme is to provide insurance coverage and financial support to farmers in the event of crop failure or damage due to natural calamities, pests, diseases, or any other external factors.

Key Objectives of PMFBY

Encouraging Innovative Agricultural Practices: PMFBY promotes the adoption of innovative and modern agricultural practices by providing farmers with the necessary financial security.

By mitigating the potential losses due to crop failure, the scheme encourages farmers to explore new techniques, technologies, and practices that enhance productivity and sustainability in agriculture.

  • The premium is subsidized by the central and state governments.
  • Insurance Coverage and Financial Support: PMFBY seeks to provide comprehensive insurance coverage and financial assistance to farmers, safeguarding them against the adverse impact of crop failure.

The scheme caters to both loanee and voluntarily covered farmers, with the sum insured determined based on the crop’s Scale of Finance or the threshold yield.

  • It covers all notified crops grown in the country.
  • Claims are settled within 30 days of the occurrence of the loss event.

Implementation of PMFBY

The scheme is implemented by the Ministry of Agriculture and Farmers Welfare in collaboration with various stakeholders, such as state governments, insurance companies, banks, and farmers.

The state governments are responsible for selecting the crops and areas to be covered under the scheme, notifying the sum insured and premium rates, and monitoring the implementation of the scheme.

The insurance companies are responsible for underwriting the risk, issuing policies, assessing crop loss, and settling claims.

The banks are responsible for collecting premium from farmers and transferring it to insurance companies.

The farmers are responsible for enrolling in the scheme, paying their share of the premium, and reporting crop loss or damage.

Benefits of PMFBY

  • The PMFBY helps to stabilize the income of farmers by providing them with financial support in the event of crop losses. This can help to ensure that farmers are able to continue farming and meet their financial obligations.
  • It covers the whole crop cycle from before sowing to after harvesting, including losses due to not being able to sow/plant and losses after harvesting in some cases.
  • It protects the crops of farmers from natural risks, such as dry weather, heavy rain, hailstorm, insects, etc., that can damage or destroy the crops. This way, the farmers can get some money if their crops are lost and can continue farming.
  • PMFBY offers farmers a safety net against crop failure, reducing the financial risks associated with farming. This enables farmers to secure loans, invest in better agricultural practices, and make informed decisions about their crops.

It uses technology such as satellites, drones, smartphones, etc., to measure crop loss and pay the money to the farmers faster and better.


As we all know, there are many farmers in our country of India who are below the poverty line and whose economic condition is not good. In such a situation, many schemes in our country have been made for the farmers, one of which is Pradhan Mantri Fasal Bima Yojana – PMFBY, through this scheme all the farmers can get their crops insured.

If you also want to know about this scheme or want to apply for it, then Digital Seva Center is at the forefront of providing this facility to you. We are India’s leading digital seva services provider company. Today people from all over India are connected with us and are taking our digital and government services.

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