Government Schemes in India – 2018
Ministry of Agriculture and Farmers Welfare
Scheme for Farm Insurance: Pradhan Mantri Fasal Bima Yojana
In April, 2016, the government of India had launched Pradhan Mantri Fasal Bima Yojana (PMFBY) after rolling back the earlier insurance schemes viz. National Agriculture Insurance Scheme (NAIS), Weather-based Crop Insurance scheme and Modified National Agricultural Insurance Scheme (MNAIS). Thus, at present, PMFBY is the only flagship scheme of the government for agricultural insurance in India.
What are objectives of PMFBY?
Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture sector by following ways:
- Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events