PMFBY: A Decade of Farmer Resilience and Financial Inclusion

• Pradhan Mantri Fasal Bima Yojana (PMFBY) has transformed agricultural risk management in India over the past decade, moving from a complex formality to a vital safety net.
• In 2024–25, over 4.19 crore farmers were insured, with nearly 55% being non-loanee, indicating voluntary enrollment and tangible benefits.
• The scheme has paid over ₹1.93 lakh crore in claims to 10.80 crore farmers, providing crucial relief during natural calamities and reducing distress borrowing.
• PMFBY's extensive framework has created thousands of rural jobs and improved insurance awareness, opening doors to broader financial protection for farmers.
• Technology-led transformation, including NCIP, YES-TECH, and WINDS, has enhanced transparency and enabled faster claim settlements, positioning India as a global benchmark.