PMFBY struggles as monsoon shortfall could deter farmers from sowing
India's main crop insurance scheme, PMFBY, is having a tough year thanks to unpredictable monsoons.
June 2026 saw rainfall nearly 40% below normal, the lowest in more than 10 years, and July isn't looking much better.
Because of this, farmers are scrambling: some may not sow at all or switch crops.
PMFBY reforms delayed until next year
PMFBY usually covers most of the premium for farmers, but not every state joins in, leaving the riskiest regions even more exposed.
Plans to improve the scheme (like covering all losses and making insurance universal) have been pushed back to at least next year.
On the bright side, using digital land and crop data is starting to make things smoother by cutting down on fraud and paperwork.
Still, with reforms on hold and weather getting wilder, PMFBY's ability to protect farmers isn't quite where it needs to be yet.