12,200 crore rupees allocated for the Pradhan Mantri Fasal Bima Yojana in 2026-27, farmers will get financial security cover in case of crop loss due to natural disasters
The State View Sunil Sharma
Jaipur. The central government has allocated a budget of 12,200 crore rupees for the year 2026-27 under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The scheme aims to provide financial security to farmers in case of crop loss due to natural disasters such as drought, floods, hailstorms, cyclones, pests and diseases. According to the government, farmer participation in the scheme is continuously increasing and technology is being used to make it more transparent and effective.
62.58 lakh farmers in Rajasthan join the scheme
The Pradhan Mantri Fasal Bima Yojana is being implemented extensively in Rajasthan. Over 62.58 lakh farmers have been enrolled in the state. Over 28.2 million hectares of land have been insured under the scheme. Approximately 36 percent of the state’s total cropped area is covered by crop insurance.The government states that risk is being mitigated by providing crop insurance to farmers at low premiums. Farmers pay a maximum premium of 2 percent for Kharif crops, 1.5 percent for Rabi crops, and 5 percent for horticultural crops. The remaining premium is contributed by the central and state governments in a proportionate manner.
Crores of farmers across the country benefited
Farmer participation has increased nationwide under the PMFBY. So far, over 92.46 crore farmer applications have been insured under the scheme. Claims worth over ₹2.06 lakh crore have been paid for over 26.33 crore farmer applications.The government stated that since the scheme’s inception, more than 920 million farmer applications have been insured. As of August 27, 2026, 241.38 lakh farmer applications and 278.12 crore hectares of land have been insured in the country.
Rajasthan sees 19% increase in participation in Rabi 2025-26
Rajasthan witnessed a 19% increase in farmer participation during Rabi 2025-26. During this period, the number of insured farmers increased from 30.59 lakh to 36.45 lakh. This indicates the growing trust of farmers in the crop insurance scheme in the state.
Digital technology will expedite claim settlement
Special emphasis is also being placed on the use of technology in the crop insurance scheme. The government has encouraged the use of technologies such as weather index, digitization, remote sensing, and drones in the scheme. Additionally, digital crop surveys, satellite-based assessments, and data systems are being integrated to expedite and make insurance claim settlements faster and more transparent.According to the government, the use of technology will enable more accurate assessment of crop losses and reduce delays in farmers receiving insurance coverage.Over ₹18,000 crore in claims paid*
In Rajasthan, over 2.1 million hectares have been insured under the Pradhan Mantri Fasal Bima Yojana and the Restructured Weather-Based Crop Insurance Scheme over the past five years, until 2025-26. Claims worth over ₹18,189 crore have been paid to farmers.To provide relief to farmers during the Kharif and Rabi seasons, the government is continuously emphasizing increasing crop insurance coverage. The scheme aims to make farming more secure and economically sustainable by protecting farmers from natural risks.
Author: thestateview
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