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The Pradhan Mantri Fasal Bima Yojna PMFBY was launched on 18th February 2016 by Prime Minister Shri Narendra Modi. 21 states implemented the scheme in Kharif 2016 whereas 23 states and 2 UTs have implemented the scheme in Rabi 2016-17. Approximately 3.7 Crores farmers have been insured in the Kharif 2016 for 3.7 crore ha of land at premium of Rs 16212 crore for a sum insured of Rs 128568.94 crore as per figures available on 31.03.2017.
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