Pradhan Mantri Fasal Bima Yojana Scheme (PMFBY) | IBEF India. Pradhan Mantri Fasal Bima Yojana is a government-sponsored crop insurance scheme in India.
It tries to give farmers financial protection against crop losses brought on by calamities, pests, and illnesses caused by nature.
Under this scheme, farmers pay a nominal premium, while the government and state share the remaining cost.
In the end, PMFBY strengthens food security and rural livelihoods by promoting agricultural sustainability and ensuring that farmers do not suffer catastrophic financial losses during unfavourable circumstances.
To get more information on the PMFBY scheme, visit the India Brand Equity Foundation website.
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