The Pradhan Mantri Fasal Beema Yojna launched by Govt of India

The NDA government's flagship crop insurance scheme - the Pradhan Mantri Fasal Beema Yojna - which is aimed to be a major policy outreach towards farmers -- got the green signal from the Union cabinet today.The most crucial element of the scheme is that it will bring down the rate of premium to be paid by farmers to a maximum of 2% of the sum insured. The rest will be paid by the state and the central government.Currently, farmers have to pay a premium ranging from 4 to 15 per cent to insure crops.