Pradhan Mantri Fasal Bima Yojana (PMFBY)
The launch of this one-of-a-kind crop insurance scheme was announced by the Union Home Minister, Mr. Rajnath Singh. Pradhan Mantri Fasal Bima Yojana will offer more insurance with less premium, and purchasing capacity of farmers will rise.
On 18 February 2016, Prime Minister, Narendra Modi unveiled the guidelines for operationalization of the Pradhan Mantri Fasal Bima Yojana (PMFBY). The guidelines were issued at a farmers’ convention that was held at Madhya Pradesh’s Sherpur village. The Yojna, which aims at boosting India’s agriculture sector, will come into force from the 2016 Kharif season.
Highlights of the Scheme
The Scheme and detailed Operational Guidelines are available on the GOI’s websites www.agricoop.nic.in