Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana (PMFBY) is an Indian government crop insurance scheme that supports farmers by providing financial protection against crop loss due to events like drought, flood, or pest attacks. Farmers pay a nominal premium, and the government covers the rest, ensuring quick claim settlements. The scheme aims to stabilize farmers' income, encourage modern farming practices, and reduce the financial burden arising from crop failures. It covers a wide range of crops and is implemented through authorized insurance providers, promoting sustainable agriculture and risk management for farmers across India.