Archive · 12 Aug 2025
PMFBY Insures 78.41 Cr Applications, Pays Out Rs 1.83 Lakh Crore
The government has a program called PMFBY to help farmers when their crops are damaged.
Since it started in 2016, the program has helped a lot of farmers and paid out a lot of money to them.
Farmers can get money if their crops are hurt by things like floods or diseases.
The government decided to keep the program going and will spend a lot of money on it.
The cost to farmers is low because the government pays most of the cost, encouraging more farmers to join.
PMFBY has insured 78.41 crore applications and paid Rs 1.83 lakh crore in claims since 2016.
Farmer enrollment increased by 32% from 2022-23 to 2024-25, the highest since the scheme's launch.
Non-loanee farmer applications have grown significantly, reflecting wider adoption of the scheme.
The scheme covers various risks, including natural disasters and crop damage throughout the entire crop cycle.
The Union Cabinet approved the continuation of PMFBY until 2025-26 with a budget of Rs 69,515.71 crore.
- Who
- Farmers enrolled in the PMFBY scheme.
- What
- PMFBY has insured 78.41 crore applications and paid Rs 1.83 lakh crore in claims.
- When
- Since its launch in 2016.
- Where
- Nationwide across India.
- Why
- To provide financial protection to farmers against crop losses due to natural risks.
Government
Critics
Effectiveness
Government
Promoting Farmer Welfare.
Critics
Criticized for slow claim settlement and limited reach.
- Scheme Name
- Pradhan Mantri Fasal Bima Yojana (PMFBY)
- Applications Insured
- 78.41 crore
- Claims Paid
- Rs 1.83 lakh crore
- Farmer Enrollment Increase (2022-23 to 2024-25)
- 32%
- Non-Loanee Farmer Applications (2014-15 to 2024-25)
- Increased from 20 lakh to 522 lakh
- Budget for continuation
- Rs 69,515.71 crore
