Pradhan Mantri Fasal Bima Yojana
Recently, the state of Andhra Pradesh has decided to rejoin the Pradhan Mantri Fasal Bima Yojana (PMFBY) from the ongoing Kharif season.
Keeping in view the suggestions of Andhra Pradesh and other states, the Central Government revamped the scheme in February 2020 with new features such as-
- voluntary enrolment for all farmers
- wider use of technology in yield estimation
- risk coverage to choose for payment of sum insured to the States as per the option
- prevailing risk profile and a provision of 3% was made for administrative expenses.
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PMFBY Launched in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) .... |
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