The Pradhan Mantri Fasal Bima Yojana (PMFBY) launched during the 2016 kharif season to help farmers insure their crops against natural calamities has provided coverage to 366.64 lakh farmers (26.50%), the agriculture ministry has said.

The ministry expects the scheme to exceed the target of 30% coverage for both kharif and rabi seasons in 2016-17. The agriculture ministry said there has been a jump of more than six times in coverage of non-loanee farmers from 14.88 lakh in kharif 2015 to 102.6 lakh in kharif 2016, which shows the scheme has been well received by non-loanee segment.

The ministry said that in many states, the notification of the scheme was delayed as the states did the bidding process for selection of the insurance companies for concerned clusters for the first time.

 

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