Farmers' coverage stagnant but premiums up 350% under PM's flagship scheme

Gross premium collected increased by Rs 368.48 billion or 348%, but the coverage has remained pretty much stagnant

In January 2016, Prime Minister Narendra Modi launched a revamped crop insurance scheme, his government’s flagship scheme for farmers, the Pradhan Mantri Fasal Bima Yojana (PMFBY).

It would “bring about a major transformation in the lives of farmers”, Modi had said at the time.

However, after the implementation of the PMFBY, the number of farmers covered by crop insurance has gone up only by 0.42%. On the other hand, premiums paid to insurance companies have increased by 350%, according to data that the Ministry of Agriculture and Farmer’s Welfare provided to