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Pradhan Mantri Fasal Bima Yojana

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Social Welfare Schemes and Measures - 17
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1. It is a new Insurance Scheme to boost farming sector in the country
2. Farmers will pay a uniform premium of only 2% for all Kharif crops and 1.5% for all Rabi crops.
3. Annual commercial and horticultural crops farmers will pay only 5%.
4. Government will pay the balance premium to provide full insurance amount to the farmers against crop loss on account of natural calamities
5. There will not be any upper limit on Government subsidy even if balance premium is 90%
6. This insurance scheme has been formulated in line with One Nation One Scheme theme.
7. This will replace two existing schems National Agricultural Insurance Scheme (MNAIS) and Modified National Agricultural Insurance Scheme (MNAIS)
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