Pradhan Mantri Fasal Bima Yojana (PMFBY)

he Pradhan Mantri Fasal Bima Yojana (PMFBY), launched on 18 February 2016, is a Government of India crop insurance scheme that provides affordable and comprehensive insurance cover to farmers in case of crop failure due to natural calamities, pests, diseases, or other covered perils.

Under PMFBY, farmers pay a nominal uniform premium — 2% for Kharif crops, 1.5% for Rabi crops, and 5% for annual commercial/horticultural crops — while the remaining premium is subsidized by the Centre and State Governments.

The scheme covers all stages: from sowing/planting (germination failure risk) to standing crop (drought, flood, hailstorm, pest, disease, etc.) and even post-harvest losses in many notified areas.

Farmers can easily access their policy data via the official website (pmfby.gov.in). Through the “Farmer Corner” or “Application Status / Beneficiary List” section, they can check if their name appears in the beneficiary/village list. They can also view claim status by entering receipt number or Aadhaar, and check if payment has been processed.

In short, PMFBY aims to stabilize farmers’ incomes, encourage adoption of modern agricultural practices, and provide financial protection against unpredictable agriculture-related risks.