PM Fasal Bima Yojana

February 18, 2025 11:01 AM

PM Fasal Bima Yojana turns nine: Rs 1.75 lakh crore in claims disbursed to 23.22 crore farmers

The Pradhan Mantri Fasal Bima Yojana (PMFBY), a scheme providing comprehensive coverage for farmers against crop losses caused by unpredictable natural disasters, has disbursed Rs 1.75 lakh crore in claims to more than 23.22 crore farmers over the past nine years, according to the Ministry of Agriculture & Farmers Welfare. Launched in 2016 by Prime Minister Narendra Modi, PMFBY has played a crucial role in stabilizing farmers' incomes while promoting the adoption of innovative agricultural ...

Cabinet approves continuation of PM Fasal Bima Yojana, weather crop insurance scheme

The Union Cabinet on Wednesday approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) until 2025-26, with an overall outlay of Rs. 69,515 crore for the period 2021-22 to 2025-26. The decision aims to provide crucial risk coverage for crops affected by non-preventable natural calamities, benefiting farmers across the country. The Cabinet has also approved the establishment of the Fund for Innovation and Technolo...