Pradhan Mantri Fasal Bima Yojana

The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched on 18 February 2016, provides comprehensive crop insurance coverage to farmers across India against natural calamities, adverse weather, pests, and diseases. With an allocation of ₹12,200 crore in the Union Budget 2026–27, the scheme covers risks ranging from pre-sowing and prevented sowing to localized calamities and post-harvest losses. Farmers pay affordable maximum premium rates of 2% for Kharif, 1.5% for Rabi foodgrain and oilseed crops, and 5% for commercial and horticultural crops, with the remaining premium subsidized by central and state governments. The scheme utilizes digital and technology-driven tools such as the National Crop Insurance Portal (NCIP), DigiClaim, YES-TECH, WINDS, CROPIC, and KRPH to enhance transparency, accuracy, and timely claim settlements.