Pradhan Mantri Fasal Bima Yojana (PMFBY)

Brief
The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, is India’s flagship government-sponsored crop insurance scheme designed to provide comprehensive financial protection to farmers against crop failure

Objectives
The scheme aims to provide financial support to farmers affected by crop loss due to unforeseen events, stabilise their income, and ensure continuity in farming by encouraging the adoption of modern agricultural practices, promoting crop diversification, boosting credit reliability, enhancing agricultural competitiveness, and protecting farmers against production risks

Eligibility Criteria
- Must be at least 18 years old
- Must be a farmer (including owner-cultivators, tenant farmers or sharecroppers)
- Must have a valid Land Possession Certificate (LPC) or a registered tenancy agreement
- No minimum land limit required
 - Must grow a notified crops (Crops list should be on the official block/village list for that season

Benefits
Farmer Contributions:
- Kharif Crops: 2% of the sum insured
- Rabi Crops: 1.5% of the sum insured
- Commercial/Horticultural: 5% of the sum insured

Government Subsidy:
- For North-Eastern states, the sharing pattern is 90:10 (Centre:State) to encourage higher participation

Comprehensive Life-Cycle Coverage:
- Prevented Sowing: If bad weather stops you from sowing, you can claim up to25% of the sum insured for land preparation costs
- Standing Crop Protection: Covers crop loss due to risks like drought, floods, dry spells, pests, and diseases
- Post-Harvest Losses: Covers damage to harvested crops kept in the field for drying for up to 14 days due to cyclones or unseasonal rain