Pradhan Mantri Fasal Bima Yojana (PMFBY)

• (PMFBY) scheme was launched in India by the Ministry of Agriculture & Farmers Welfare, New Delhi from the Kharif 2016 season onwards.

Objective

• Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events
• Stabilizing the income of farmers to ensure their continuance in farming.
• Encouraging farmers to adopt innovative and modern agricultural practices
• Ensuring the flow of credit to the agriculture sector which will contribute to food security, crop diversification, and enhancing growth and competitiveness of the agriculture sector besides protecting farmers from production risks.

Coverage of Crops

• Food crops (Cereals, Millets and Pulses),
• Oilseeds
• Annual Commercial / Annual Horticultural crops

Source:

• Pradhan Mantri Fasal Bima Yojana (PMFBY)
• https://twitter.com/pmfby