Question:
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a flagship scheme of Government of India. What is not correct about this scheme?
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a flagship scheme of Government of India. What is not correct about this scheme?
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Remember that PMFBY replaced the National Agricultural Insurance Scheme (NAIS) and the Modified NAIS. It was introduced in early 2016 and implemented for the first time during the Kharif 2016 crop cycle.
Updated On: Aug 5, 2026
- PMFBY is currently the largest crop insurance scheme in the world in terms of farmer enrolments.
- The scheme is implemented on an 'Area Approach' basis.
- It was launched in the 2015 kharif season to provide comprehensive insurance coverage to farmers in case of crop failure.
- The scheme was revamped w.e.f kharif 2020 with many new features such as voluntary participation for all farmers, selection of Insurance Companies, etc.
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The Correct Option is C
Solution and Explanation
Step 1: Understanding the Concept:
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a critical national agricultural policy aimed at providing financial security to farmers.
It addresses risks associated with yield losses from pre-sowing to post-harvest stages.
Understanding the timeline of major welfare programs is essential for evaluating policy transitions.
Step 3: Detailed Explanation:
The PMFBY was officially announced by Prime Minister Narendra Modi on 18 February 20
Its actual implementation on the ground commenced with the Kharif 2016 season, not the 2015 season.
This makes the statement in option (C) chronologically incorrect.
Evaluating the other options:
- Statement (A) is correct because India's PMFBY is the largest crop insurance program globally in terms of the volume of participating farmers.
- Statement (B) is correct because the program utilizes an 'Area Approach', treating a defined geographical area (such as a Gram Panchayat) as a single unit for damage assessment and compensation.
- Statement (D) is correct because the government restructured the scheme in 2020 to make participation completely voluntary for all farmers, including those with active crop loans.
Step 4: Final Answer:
The incorrect statement is (C) as the scheme began during the Kharif 2016 season.
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a critical national agricultural policy aimed at providing financial security to farmers.
It addresses risks associated with yield losses from pre-sowing to post-harvest stages.
Understanding the timeline of major welfare programs is essential for evaluating policy transitions.
Step 3: Detailed Explanation:
The PMFBY was officially announced by Prime Minister Narendra Modi on 18 February 20
Its actual implementation on the ground commenced with the Kharif 2016 season, not the 2015 season.
This makes the statement in option (C) chronologically incorrect.
Evaluating the other options:
- Statement (A) is correct because India's PMFBY is the largest crop insurance program globally in terms of the volume of participating farmers.
- Statement (B) is correct because the program utilizes an 'Area Approach', treating a defined geographical area (such as a Gram Panchayat) as a single unit for damage assessment and compensation.
- Statement (D) is correct because the government restructured the scheme in 2020 to make participation completely voluntary for all farmers, including those with active crop loans.
Step 4: Final Answer:
The incorrect statement is (C) as the scheme began during the Kharif 2016 season.
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