Pradhan Mantri Fasal Bima Yojana: A Decade of Farmer Protection

Pradhan Mantri Fasal Bima Yojana (PMFBY) started in February 2016 and provides a safety net for Indian farmers. Since then, the scheme has handled over 92.46 crore applications. More than 26.33 crore farmers have received claims totaling over ₹2.06 lakh crore. This scheme helps make sure natural disasters do not cause money problems for farming families.

The scheme is affordable for farmers. You pay premiums of just 2 percent for Kharif crops, 1.5 percent for Rabi crops, and 5 percent for commercial varieties. The government pays the rest of the cost. For Himalayan and north-eastern states, the sharing ratio is 90:10. By August 27, 2026, 241.38 lakh farmers are already insured for the Kharif 2026 season. This covers 278.12 lakh hectares of land.

Better farming support

Technology helps run this insurance scheme better. Tools like YES-TECH and WINDS, along with the National Crop Insurance Portal, make it faster to settle claims and keep the process clear. The Union Budget 2026-27 set aside ₹12,200 crore to keep agricultural support a top priority. Today, 25 states and union territories run the scheme, including recent additions like Jharkhand and West Bengal.