PAYMENT OF COMPENSATION UNDER PRADHAN MANTRI FASAL BIMA YOJANA

The Ministry of Agriculture and Farmers Welfare provided an update on the Pradhan Mantri Fasal Bima Yojana (PMFBY).

Since its 2016 launch, the scheme has insured over 78 crore farmer applications and disbursed Rs. 1.83 lakh Crores in claims to 22.66 crore farmers by June 2025. The government emphasized the role of public and private insurers in boosting coverage, particularly for non-loanee farmers, and reducing premium rates.