PMFBY scheme: coverage, insurance premiums and the Meri Policy Mere Haath campaign

The PMFBY state program compensates for losses from natural phenomena such as earthquakes, droughts, floods, storms, cyclones, hail, and also protects against plant diseases, pests, localized disasters, sowing issues, unseasonal precipitation, and post-harvest losses. Application submission and status tracking are available on the official website pmfby.gov.in, and approved funds are paid via direct bank transfers to the bank account.

The program follows a single tariff principle. The maximum insurance premium rate for farmers is 2% for food and oilseed crops of the Kharif season, 1.5% for Rabi, and 5% for commercial or horticultural crops. The remainder of the insurance premium is jointly covered by the Centre and the states (in a 50:50 ratio, and 90:10 for the northeastern and Himalayan states). For the 2027 financial year, 12,200 crore rupees have been allocated in the budget, and 25 states and union territories are implementing the scheme for the Kharif 2026 season.

Over 10 years of the program's operation, more than 92.46 billion (92.46 crore) farmer applications have been insured, and payouts for over 26.33 billion applications have exceeded 2.06 lakh crore rupees. The initiative provides for the integration of advanced technologies (satellite imagery, drones, and mobile applications) for accurate damage assessment, and payouts are planned to be made within two months after harvesting.

For the Kharif 2026 season, the Meri Policy Mere Haath (MPMH) campaign is underway in a number of regions, involving insurance companies including SBI General Insurance. The initiative aims to directly deliver policies to farmers and increase awareness of the program. Document distribution covers nine states: Madhya Pradesh, Uttar Pradesh, Uttarakhand, Maharashtra, Assam, Odisha, Tamil Nadu, Karnataka, and Jharkhand. Campaign support includes policy distribution camps, as well as events in the format of Fasal Bima Pathshalas, Kisan Melas, and Kisan Goshtis.