The Pradhan Mantri Fasal Bima Yojana (PMFBY) has received a major upgrade with the Centre announcing that crop losses caused by wild animal attacks and paddy field inundation will now be covered beginning Kharif 2026. This expansion addresses longstanding demands from farmers, especially those living near forest areas and flood-prone regions.
Under the revised scheme, damage from wildlife such as elephants, wild boars, nilgai, deer, and monkeys will be treated as an insurable risk. This marks the fifth addition under the Localized Risk category, enabling farmers to receive compensation for crop destruction caused by animals — a frequent concern in regions bordering wildlife habitats.
The inclusion of paddy inundation—a common issue in states like Tamil Nadu, Andhra Pradesh, Assam, and West Bengal—ensures that farmers facing losses from waterlogging, cyclonic rainfall, or drainage failures can now claim insurance benefits.
Launched in 2016, PMFBY offers subsidized premiums (2% for Kharif crops, 1.5% for Rabi, and 5% for horticulture/cash crops) and protects farmers from natural disasters, pests, and diseases. With its updated localized risk coverage—now including hailstorms, landslides, floods, wild animal attacks, and paddy inundation—the scheme has become more inclusive and responsive to regional vulnerabilities.
The move strengthens India’s agricultural safety net, ensuring better financial protection for farmers and encouraging sustainable investment in agriculture.
