The Pradhan Mantri Fasal Bima Yojna was launched by the BJP government in January 2016 to provide insurance support to farmers. The scheme replaced the National Agriculture Insurance Scheme (NAIS). The government has increased the budget for the scheme by 64% from Rs. 5500 crores in 2016-17 to Rs. 9000 crores in Rs. 2017-18. The total funds released by the government under various crop insurance schemes has gone up from Rs. 2550 crores in 2013-14 to Rs. 7960 crores in 2016-17 (as of Dec 2016).
The scheme is currently being implemented in 22 states. During the Kharif 2016 season, nearly 33 lakh farmers were beneficiaries under the scheme. A majority of these cases were from Maharashtra, Telangana and Uttar Pradesh.
National Crop Insurance Portal was launched to facilitate the real-time flow of information among stakeholders and prompt service delivery.
Norms have been relaxed to provide assistance to farmers in case of 33 percent crop loss resulting from natural calamities, instead of earlier benchmark of 50 percent.