---
title: "PMFBY: India's Crop Insurance Scheme Explained"
description: "Pradhan Mantri Fasal Bima Yojana is India's crop insurance scheme, launched in 2016, that compensates farmers for yield losses due to natural disasters."
url: "https://modeldiplomat.com/learn/glossary/pradhan-mantri-fasal-bima-yojana"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- Pradhan Mantri Fasal Bima Yojana is India's flagship crop insurance scheme, launched in 2016 to compensate farmers for yield losses from natural calamities at subsidised premiums.
- How much premium does a farmer pay under PMFBY?
- How are crop losses assessed under PMFBY?
- How does PMFBY differ from RWBCIS?
- Is enrolment in PMFBY compulsory?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

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In 2020, the Union Cabinet made PMFBY voluntary for all farmers from the Kharif season after Andhra Pradesh, Gujarat and Telangana exited the scheme citing high premium-subsidy outflows and delayed claim settlement.

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