Revised framework for Pradhan Mantri Fasal Bima Yojana (PMFBY) will be rolled out from Kharif 2026.
Key Changes introduced under PMFBY
- New Coverage Added: Crop loss due to wild animal attacks is included as the 5th add-on cover under localised risks.
- Reintroduced Protection: Paddy inundation restored as a localised calamity cover (removed in 2018).
- State-Level Identification: States will notify the list of wild animals and vulnerable districts based on historical data.
- Mandatory Reporting: Farmers must report losses within 72 hours via the crop insurance app with geo-tagged photos.
About PM Fasal Bima Yojana (PMFBY)
- Ministry: Launched in 2016 by the Ministry of Agriculture & Farmers’ Welfare.
- Type: Central Sector Scheme
- Aims & Objectives:
- Financial support to farmers suffering crop loss/ damage, stabilizing their income and ensuring flow of credit to the agriculture sector.
- Adoption of innovative & modern agricultural practices and crop diversification.
- Eligibility: Farmers, including sharecroppers and tenant farmers, growing notified crops in notified areas
- Premium Payable by Farmers:
- For Kharif crops - 2%
- For Rabi crops - 1.5%
- For commercial and horticultural crops - 5%
- Premium by Government: Shared equally (50:50) by the Central and State Governments; Except for North-Eastern and Himalayan states (90:10)
