The Pradhan Mantri Fasal Bima Yojana (PMFBY) continues to play a crucial role in safeguarding the interests of farmers across India by providing comprehensive crop insurance coverage. Launched to protect cultivators against crop loss due to natural calamities, pests, and diseases, the scheme has benefitted millions of farmers in recent years.
Union Government on Monday transferred ₹3,200 crore under the Pradhan Mantri Fasal Bima Yojana
Union Agriculture Minister Shivraj Singh Chouhan said the scheme has processed over 78 crore farmer applications since its launch in 2016, with total claims worth ₹1.83 lakh crore settled—over five times the premiums paid by cultivators. He also announced a new provision starting from the Kharif 2025 season, under which delays in claim settlements will attract a 12% penalty on the amount payable, applicable to both state governments and insurance companies.
PM Fasal Bima Yojana: Ensuring Crop Security for Farmers
Implemented in coordination with state governments, PMFBY offers financial support to farmers to ensure they can recover from crop losses and maintain their livelihoods. The scheme covers all food crops, oilseeds, and certain commercial crops, with premium rates kept affordable to encourage wider participation.
The largest share of this disbursement went to Madhya Pradesh farmers, who received ₹1,156 crore, followed by Rajasthan with ₹1,121 crore. Farmers in Chhattisgarh were credited with ₹150 crore, while the remaining ₹773 crore was distributed among cultivators in other states.
Officials note that timely claim settlements and technology-driven monitoring are being strengthened to ensure transparency and efficiency. States are also urged to spread awareness about the scheme so that even small and marginal farmers can benefit from its provisions.
The central government maintains that PMFBY is a step toward sustainable agriculture, resilience against climate risks, and financial empowerment of the farming community.
