Pradhan Mantri Fasal Bima Yojana (PMFBY) Scheme

  • The Pradhan Mantri Fasal Bima Yojana (PMFBY) launched on 18 February by Prime Minister Narendra Modi.
  • To stabilize the income of farmers to ensure their continuance in farming.
  • Covers all food grains, oilseeds and annual commercial/Horticultural crops.
  • One season one rate a uniform maximum premium of 2% for Kharif, 1.5 % for Rabi, food and oil seed crops and 5 % for annual commercial / horticultural crops.
  • For losses due to hailstorm, landslide and inundation assessment of yield losses at individual field level.
  • Post harvest losses for cut & spread crops on yield up to 14 days due to cyclone / cyclonic rains and unseasonal rains.
  • On account payment upto 25% of sum instead due to prevented sowing or mid season adversity.

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