Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Government of India in 2016 to protect farmers against crop loss due to natural calamities, pests and diseases. The scheme helps farmers get financial assistance in case of crop loss and encourages adoption of modern farming methods. It provides affordable insurance at low premium rates so that farmers can secure their income and continue farming without major financial losses. It covers a wide range of crops and helps farmers overcome losses during the farming season.
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