Crop Insurance Scheme- The Pradhan Mantri Fasal Bima Yajana (PMFBY) successfully completes 5 Years of operations on 13th January 2021. Five years ago, on 13th January 2016, the Government of India took a historic step towards strengthening risk coverage of crops for farmers of India and approved the flagship crop insurance scheme - the Pradhan Mantri Fasal Bima Yojana (PMFBY).
About Pradhan Mantri Fasal Bima Yajana (PMFBY)
Started Year : 2016
Organiser : Minister of Agriculture & Farmers Welfare
As an end to end risk mitigation mechanism for farmers, the scheme extends coverage for the entire cropping cycle from pre-sowing to post-harvest including coverage for losses arising out of prevented sowing and mid-season adversities. Individual farm level losses arising out of localized calamities and post-harvest losses are also covered due to perils such as inundation, cloudburst and natural fire.
Sources : PIB