Pradhan Mantri Fasal Bima Yojana (PMFBY)
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Government scheme — a structured programme with defined beneficiaries, budget allocation, and delivery mechanisms. The primary instrument for delivering welfare and development outcomes.
Summary
Crop insurance scheme with lowest-ever premium rates (2% for kharif, 1.5% for rabi) providing comprehensive risk cover for pre-sowing to post-harvest losses. Uses technology including satellite imagery and drones for rapid claim settlement.
Key Facts
TypeScheme
SourceHistorical Record
PublishedThursday, 18 February 2016
Affected Population~150 million farming households, 42% of workforce
Key Numbers
Agri budget: Rs 1.52 lakh crore (2025-26)
MSP for 23 crops
PM-KISAN: Rs 6,000/year to 9 crore farmers
GDP: $3.9 trillion (2025 est.)
Key Authorities
Key Stakeholders
Government Context
NDA IBJP-led NDA
LeftCentreRight
Amendment History
1 change recorded for this policy.
SectorsTuesday, 11 August 2026via historical
Agriculture, Finance & Economy