PM Fasal Bima Yojana pays over ₹2.08 lakh crore to over 12.78 crore farmers

PM Fasal Bima Yojana has paid over ₹2.08 lakh crore in crop insurance claims to more than 12.78 crore farmers over 10 years, according to the article. It was launched on February 18, 2016; the 2026-27 Budget allocated ₹12,200 crore for it.

Farmers pay a maximum premium of 2% of the sum insured for Kharif crops, 1.5% for Rabi crops and 5% for commercial and horticultural crops. Central and state governments subsidise the rest.

Cover includes crop losses before sowing, during cultivation due to drought, floods, hailstorms or pest attacks, and at harvest. Claims are settled under scheme rules.

Farmers can check the official portal, contact a bank or insurer, or ask a Common Service Centre about applying. Their state Agriculture Department can provide district crop-loss details and application deadlines.