Crop Insurance Scheme- The Pradhan Mantri Fasal Bima Yajana

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13/01/21 10:00 AM IST

Crop Insurance Scheme- The Pradhan Mantri Fasal Bima Yajana

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Crop Insurance Scheme- The Pradhan Mantri Fasal Bima Yajana (PMFBY) successfully completes 5 Years of operations on 13th January 2021

Pradhan Mantri Fasal Bima Yojana

Crop Insurance Scheme is in line with One Nation – One Scheme theme. It incorporates the best features of all previous schemes and at the same time, all previous shortcomings / weaknesses have been removed.

Objectives

To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.
To stabilise the income of farmers to ensure their continuance in farming.
To encourage farmers to adopt innovative and modern agricultural practices.
To ensure flow of credit to the agriculture sector.

Source: PIB

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Crop Insurance Scheme- The Pradhan Mantri Fasal Bima Yajana

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