Pradhan Mantri Fasal Bima Yojana (PMFBY) has completed nine years today. Prime Minister Narendra Modi launched this scheme in 2016, which aims to provide financial support to farmers suffering crop loss and damage arising out of natural calamities.

The scheme has played a crucial role in stabilising farmers’ incomes while promoting the adoption of innovative agricultural practices. After recognising the success and potential of the scheme, the Union Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather-Based Crop Insurance Scheme till 2025-26 with a total budget of over 69 thousand 515 crore rupees.