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Pradhan Mantri Fasal Bima Yojana (PMFBY) aims to support production in agriculture by providing affordable crop insurance to ensure comprehensive risk cover for crops of farmers against all non-preventable natural risks from pre-sowing to post-harvest stage, on an ‘Area Approach Basis’. PM Fasal Bima Yojana is a crop insurance scheme by the Department of Agriculture, Cooperation, and Farmers’ Welfare, Ministry of Agriculture. Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced on 18 February 2016 by Prime Minister Narendra Modi. PM Fasal Bima Yojana provides a comprehensive insurance cover against failure of the crop thus helping in stabilizing the income of farmers. Pradhan Mantri Fasal Bima Yojana (PMFBY) is the government sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.
