Pradhan Mantri Fasal Bima Yojana Turns Nine

Pradhan Mantri Fasal Bima Yojana celebrates its 9th anniversary on February 18, 2025, marking a significant milestone in providing financial protection to farmers against crop losses due to natural calamities. This scheme is crucial for UPSC aspirants, especially for GS Paper 3, as it relates to agriculture and disaster management. Last Updated: 2025-02-18

Key Facts About Pradhan Mantri Fasal Bima Yojana

• Launch Date: February 18, 2016
• Anniversary: 9 years on February 18, 2025
• Protection: Against crop losses from natural hazards
• Budget: ₹69,515.71 crore approved till 2025-26
• Eligibility: All farmers, including sharecroppers
• Risk Coverage: Includes natural calamities, pests, and post-harvest losses
• Premium Rates: 2% for Kharif, 1.5% for Rabi, 5% for commercial crops
• Technology: Utilizes satellite imagery and drones for assessments

India's Agricultural Insurance Landscape

The Pradhan Mantri Fasal Bima Yojana plays a pivotal role in India's agricultural insurance landscape, aligning with the country's economic and social goals of ensuring food security and farmer welfare. As the largest crop insurance scheme globally, it reflects India's commitment to adopting advanced technology for agricultural resilience. This initiative supports the growth of the agricultural sector, contributing to the national GDP and enhancing global competitiveness.

Related Government Schemes/Policies

• PM-KISAN: Provides income support to farmers to supplement their financial needs.
• Soil Health Card Scheme: Aims to promote soil health and productivity.
• National Agriculture Market (eNAM): Facilitates online trading of agricultural commodities.

UPSC Relevance

• GS Paper 3: Agriculture, Disaster Management
• Prelims Angle: Questions on launch date, premium rates, and risk coverage
• Mains Angle: Analytical themes on agricultural insurance and technology in agriculture
• Essay Paper: Topics on rural development and farmer welfare

FAQ Section

• What is Pradhan Mantri Fasal Bima Yojana? It is a government-backed crop insurance scheme launched in 2016 to provide financial protection to farmers against crop losses due to natural calamities.
• Why is Pradhan Mantri Fasal Bima Yojana important? It stabilizes farmers' income, encourages innovative agricultural practices, and is the largest crop insurance scheme globally, with a budget of ₹69,515.71 crore approved till 2025-26.
• What are the key features of Pradhan Mantri Fasal Bima Yojana? Key features include affordable premium rates, risk coverage for natural calamities and pests, and the use of satellite imagery and drones for assessments.