Agroinsurance

NEWS

India - Bengal to finally join Fasal Bima, Bihar may follow suit

18.06.2026 286 views

Amid forecasts of a below-normal monsoon, West Bengal will rejoin the Pradhan Mantri Fasal Bima Yojana (PMFBY) this kharif season, followed by Bihar in the upcoming rabi season, significantly expanding India's agrarian safety net.

West Bengal, the biggest rice-producing state, will join the highly subsidised Pradhan Mantri Fasal Bima Yojana (PMFBY) from the current kharif season, amidst prospects of below-normal monsoon rains this season.

The state government had earlier refused to join the scheme, citing factors including financial constraints. Sources said that Prime Minister Narendra Modi will formally launch crop insurance for the farmers in West Bengal on June 20.

Expanding the Safety Net

In addition, an agriculture ministry official told FE that Bihar, a major producer of paddy, wheat and maize, would join the government’s flagship crop insurance scheme in the next rabi season. The subsidy burden is shared equally between the Centre and states under PMFBY.

The crop insurance scheme provides comprehensive risk coverage from pre-sowing to post-harvest stages of crops. Farmers pay a fixed premium of just 1.5% of the sum insured for rabi crops, 2% for kharif crops, and 5% for cash crops. Currently, PMFBY is implemented across 24 states and union territories.

The premium subsidy in the north-eastern states is split in a 9:1 ratio between the Centre and states. To step up farmer enrollment under the scheme, the agriculture ministry will soon issue an advisory to the states so that farmers are adequately covered in case of crop losses due to below-normal monsoon rainfall.

Fiscal Scale

According to the ministry, over Rs 1.98 lakh crore has been paid to farmers under PMFBY as compensation since its launch in 2016, which was five times the total premiums of Rs 40,097 crore paid by them so far. Since its launch in kharif, 2016, 27 states and union territories have implemented the scheme in several seasons. However, Bihar, Telangana, Andhra Pradesh, Jharkhand, West Bengal and Gujarat opted out of the scheme due to factors including financial constraints. However, Andhra Pradesh and Jharkhand have re-joined it.

Gujarat currently implements its own Mukhyamantri Kisan Sahay Yojana, while Punjab has in principle given the nod for implementing PMFBY.

The Centre has incurred Rs 12,267 crore under PMFBY as per the revised estimate for FY26. As per the budget estimate, Rs 12,200 crore has been allocated for crop insurance for the current fiscal year.

Source - https://www.financialexpress.com

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