Hayat Ashraf

Crop insurance in India is a risk management tool that provides financial protection to farmers against crop losses due to natural calamities, pests, diseases, and other specified perils. It aims to stabilize farmers' income, ensure their financial security, and encourage them to adopt modern agricultural practices. Here's an overview of crop insurance in India: 1. Pradhan Mantri Fasal Bima Yojana (PMFBY): PMFBY is the flagship crop insurance scheme in India. It was launched in 2016 and replaced the earlier crop insurance schemes. Under PMFBY, farmers pay a nominal premium, and the remaining premium is shared equally by the central and state governments. The scheme provides comprehensive insurance coverage for major crops, including food crops, oilseeds, and horticultural crops. 2. Coverage and Risks: PMFBY covers yield losses due to natural calamities such as drought, flood, cyclone, hailstorm, pest/disease outbreaks, and post-harvest losses. The scheme also offers coverage fo...