The Pradhan Mantri Fasal Bima Yojana was launched by the Central Government in 2016. It provides comprehensive insurance cover against failure of the crops, enabling the stabilisation of farmers income. It replaces two schemes National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS). It reduces the premium burden on farmers and ensures timely settlements of claims.
The Central Government is currently not maintaining the data on the complaint resolved by the grievance redressal committees under the PMFBY. The Parliamentary Standing Committee on Agriculture has urged the Union Ministry of Agriculture and Farmers Welfare Department to maintain the records on the types of grievances resolved by such committees.