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Pradhan Mantri Fasal Bima Yojana Completes Nine Years of Empowering Farmers and Securing Livelihoods.

National | Dated: 20 Feb 2025

The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016 by Prime Minister (PM) Narendra Modi, celebrated its nine-year anniversary on February 18, 2025. PMFBY is India’s flagship crop insurance scheme aimed at safeguarding farmers from financial distress due to natural calamities.

🎯 Key Highlights:

  • - This scheme has become a key pillar of India’s agricultural resilience, benefiting over 23.22 crore farmers by providing protection against crop losses and disbursing claims worth Rs.1.75 lakh crore over the past nine years.
  • - With its recent extension until 2025-26 and a budget allocation of Rs.69,515.71 crore, PMFBY continues to reinforce farmer welfare and promote sustainable agriculture.

💡 Other Important Facts:

  • (i) Farmers pay only 2% (Kharif crops), 1.5% (Rabi crops), or 5% (horticulture/commercial crops), with the remaining amount subsidized by the government.
  • (ii) Includes yield losses, prevented sowing (up to 25% of the sum insured), post-harvest losses (14 days post-harvest), and localized calamities.

📚 Test Your Knowledge:

Recently, how many years has the Pradhan Mantri Fasal Bima Yojana (PMFBY) completed as of February 18, 2025?

Correct Answer: Nine

🚀 Quick Recap: