Farmers Insurance Payouts 2024 India. — there has been a 27 per cent increase in the number of farmers enrolled under the pradhan mantri fasal bima yojana (pmfby) so far during the current. The pmfby is a subsidized crop insurance scheme, where farmers pay between 1.5% and 2% of the premiums depending on crop cycles.
The state government has so far received over 38 lakh claims from farmers seeking payout under the prime minister’s crop insurance scheme for losses. The remaining share is shared 50:50.