How many farmer have been insured under the scheme of Pradhan Mantri Fasal Bima Yojana (PMFBY) as of February, 2022?

Solution

The Pradhan Mantri Fasal Bima Yojana (PMFBY) has successfully entered its 7th year of implementation with the upcoming Kharif 2022 season, completing 6 years of its implementation since its launch announcement on 18th February 2016 by Prime Minister Shri Narendra Modi at Sehore, Madhya Pradesh. A flagship scheme of the Government of India, PMFBY aims to provide financial support to farmers suffering crop loss/damage arising out of natural calamities. Over 36 crore farmer applications have been insured under PMFBY, with over INR 1,07,059 crores of claims have already been paid under the scheme as of 4th February, 2022. Launched 6 years ago, the scheme was revamped in 2020 enabling voluntary participation of the farmers. It also made it convenient for the farmer to report crop loss within 72 hours of the occurrence of any event - through Crop Insurance App, CSC Centre or the nearest agriculture officer, with claim benefit transferred electronically into the bank accounts of the eligible farmer.