Demystifying Pmfby: Understanding The Scheme And Its Impact In North East India

Abstract

The Pradhan MantriFasalBima Yojana stands as vital initiatives in Indian agriculture aiming at safeguarding the farmers against the unpredictable risks inherent in agriculture.This article provides an overview of the crop insurance scheme, its objectives, including its features, risks inclusion and exclusion, its coverage structure, premium mechanism, its collaborative efforts between the state and the central government, its insurance companies and farmers. It also provides an outlook of the scheme in North eastern region with its impact on the region within the past 4 years (during 2020 to 2023) on kharif and rabi crops. It also emphasis on the challenges faced with suggestion for policy improvement was recommended.