Ministry of Agriculture & Farmers Welfare

Progress of PMFBY

Posted On: 04 FEB 2020 5:51PM by PIB Delhi

Based on the experience of past crop insurance schemes and with a view to include more risks under crop insurance, making it more affordable to the farmers etc., Pradhan Mantri Fasal Bima Yojana (PMFBY) has been introduced for implementation from Kharif 2016 season.  Due to the improved features of the scheme coverage under the scheme has been increased to 30% of Gross Cropped area in the country from 23% in erstwhile crop insurance schemes in 2015-16.  The coverage of non-loanee farmers, for whom the coverage is voluntary, has increased from 5% under erstwhile schemes in 2015-16 to 42% during Kharif 2019, which shows the acceptability and progress of the scheme on voluntary basis.   

Though the coverage during 2nd year of implementation i.e. 2017-18 of PMFBY slightly decreased due to announcement of loan waiver schemes by some State and making Aadhar compulsory for de-duplication of coverage, but due to the improved features of the scheme and efforts made by the Government and other stakeholders, coverage is showing increasing trends. 

18 companies including all the 5 public sector companies have been empanelled for implementation of the scheme in country by the Department of Agriculture, Cooperation and Farmers Welfare.  But all the companies are not participating in bidding process in each State/each season.  During last year i.e. 2019-20 four companies namely, ICICI-Lombard General Insurance Company Ltd., Tata-AIG General Insurance Company Ltd., Cholamandal-MS General Insurance Company Ltd. and Shriram General Insurance Company Ltd. have not participated in fresh bids due to non-availability of reinsurance arrangement and non-approval by their respective Board of Directors etc.

Based on the experience gained and views/ comments of the stakeholders, the Government has recently revised the Operational Guidelines of the scheme with effect from Rabi 2018-19 season.  Inviting of suggestions from various stakeholders and revisions/ improvements in the crop insurance schemes is a continuous process and decisions on suggestions/representations are taken from time to time after consultation with various stakeholders.   Accordingly, suggestions for revamping of PMFBY have been invited from various stakeholders.

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar in Lok Sabha today.





(Release ID: 1601904) Visitor Counter : 1518