**Executive Summary:**
This document is a response to Lok Sabha Unstarred Question No. 316 regarding the Pradhan Mantri Fasal Bima Yojana (PMFBY) as of March 31, 2025. It provides the total number of farmer applications enrolled since the scheme's inception, lists the public and private sector insurance companies empanelled under PMFBY, and explains the rationale for including private sector companies. As of June 30, 2025, 78.41 crore farmer applications have been enrolled under PMFBY.
**Key Points / Main Content:**
* **PMFBY Overview:**
* The Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced in Kharif 2016.
* The scheme is voluntary for States and farmers.
* Since inception until June 30, 2025, 78.41 crore farmer applications have been enrolled.
* **Insurance Company Empanelment:**
* Private insurers were allowed based on recommendations from the Joint Group on Crop Insurance (December 2004).
* Private companies were included to increase coverage, encourage competition, and provide better services to farmers at competitive rates.
* The concerned State Government selects the company through a transparent tender process.
* **List of Empanelled Insurance Companies:**
* **Public Sector Insurance Companies (5):**
1. Agriculture Insurance Company of India Ltd.
2. National Insurance Company Ltd.
3. New India Assurance Company Ltd.
4. Oriental Insurance Company Ltd.
5. United India Insurance Company Ltd.
* **Private Sector Insurance Companies (15):**
6. Bajaj Allianz General Insurance Company Ltd.
7. Cholamandalam MS General Insurance Company Ltd.
8. Future Generali India Insurance Company Ltd.
9. HDFCERGO General Insurance Company Ltd.
10. ICICILombard General Insurance Company Ltd.
11. IFFCOTokio General Insurance Company Ltd.
12. Reliance General Insurance Company Ltd.
13. SBI General Insurance Company Ltd.
14. Shriram General Insurance Co. Ltd.
15. TataAIG General Insurance Company Ltd.
16. Universal Sompo General Insurance Company Ltd.
17. Royal Sundaram General Insurance company Ltd.
18. GoDigit General Insurance company Ltd.
19. Kshema General Insurance Limited
20. Raheja QBE General Insurance Company Ltd.
**Impact Analysis:**
* **Farmers:**
* *Impact:* Access to crop insurance, potential for better services and competitive rates due to private sector involvement.
* *Action Required:* Voluntarily enroll in the scheme through their respective State Governments.
* **State Governments:**
* *Impact:* Responsible for selecting insurance companies for implementation through a transparent tender process.
* *Action Required:* Conduct transparent tender processes to select insurance providers from the empanelled list.
* **Public and Private Sector Insurance Companies:**
* *Impact:* Opportunity to participate in PMFBY based on empanelment criteria and State Government selection processes.
* *Action Required:* Public and Private companies must participate in State Government tender processes.
* **Government of India (Ministry of Agriculture and Farmers Welfare):**
* *Impact:* Responsible for overseeing the PMFBY scheme and addressing related queries in Parliament.
* *Action Required:* Continue to monitor the scheme's implementation and address any issues that arise.
Key Entities Referenced
Pradhan Mantri Fasal Bima Yojana: A crop insurance scheme in India, abbreviated as PMFBY, aimed at providing insurance coverage to farmers against crop losses.
SHRI RAJESH NARANBHAI CHUDASAMA: A Member of Parliament who raised a question regarding the PMFBY in the Lok Sabha.
SHRI RAMNATH THAKUR: The Minister of State for Agriculture and Farmers Welfare who provided the answer to the question in the Lok Sabha.
Agriculture Insurance Company of India Ltd.: A Public Sector Insurance Company empanelled under PMFBY.
Joint Group on Crop Insurance: A group constituted to recommend improvements in the existing crop insurance schemes.
Bajaj Allianz General Insurance Company Ltd.: A Private Sector Insurance Company empanelled under PMFBY.
Lok Sabha: The lower house of the Parliament of India, where the question regarding PMFBY was raised.
Kharif 2016: The season from which Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced in the country
GOVERNMENT OF INDIA
MINISTRY OF AGRICULTURE AND FARMERS WELFARE
DEPARTMENT OF AGRICULTURE AND FARMERS WELFARE
LOK SABHA
UNSTARRED QUESTION NO. 316
TO BE ANSWERED ON THE 22ND JULY, 2025
INSURANCE COMPANIES EMPANELLED UNDER PMFBY
316. SHRI RAJESH NARANBHAI CHUDASAMA:
Will the Minister of AGRICULTURE AND FARMERS WELFARE कृ(cid:874)ष एवं (cid:873)कसान क(cid:227)याण मं(cid:287)ी
be pleased to state:
(a) the total number of beneficiaries in the country under the Pradhan Mantri Fasal Bima
Yojana (PMFBY) as on 31st March, 2025;
(b) the list of insurance companies selected under PMFBY as on 31st March, 2025;
(c) the list of public and private sector insurance companies empanelled under PMFBY
as on 31st March 2025; and
(d) the reasons for not restricting the list of providers to Public Sector Insurance
Companies?
ANSWER
THE MINISTER OF STATE FOR AGRICULTURE AND FARMERS WELFARE
कृ(cid:874)ष एवं (cid:873)कसान क(cid:227)याण रा(cid:207)य म(cid:287)ं ी (SHRI RAMNATH THAKUR)
(a) : The Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced in the country from
Kharif 2016 season. The scheme is voluntary for the States and farmers. Since inception
of the scheme till 30.06.2025, 78.41 crore farmer applications have been enrolled under the
scheme.
(b) to (d) : The ‘Joint Group on Crop Insurance’ constituted to recommend the
improvements required in the existing crop insurance schemes inter-alia had recommended
in December 2004 that the Government should allow private insurers in area based yield
insurance. Accordingly, it was decided to allow private general insurance companies
having adequate infrastructure and expertise in rural insurance business. These
Companies have been involved to increase the coverage of farmers especially non-loaneefarmers and to bring more competition in crop insurance sector so as to provide the best
services to farmers at competitive rates. At present, in addition to all the 5 Public Sector
General Insurance Companies, 15 private general insurance companies have also been
empanelled for implementation of Crop Insurance schemes in the country. The company
for implementation of the scheme is selected by the concerned State Government from the
empanelled list of companies through transparent tender process. The insurance
companies currently empaneled for implementation of PMFBY are as under:
PUBLIC SECTOR INSURANCE COMPANIES
1. Agriculture Insurance Company of India Ltd.
2. National Insurance Company Ltd.
3. New India Assurance Company Ltd.
4. Oriental Insurance Company Ltd.
5. United India Insurance Company Ltd.
PRIVATE SECTOR INSURANCE COMPANIES
6. Bajaj Allianz General Insurance Company Ltd.
7. Cholamandalam MS General Insurance Company Ltd.
8. Future Generali India Insurance Company Ltd.
9. HDFC-ERGO General Insurance Company Ltd.
10. ICICI-Lombard General Insurance Company Ltd.
11. IFFCO-Tokio General Insurance Company Ltd.
12. Reliance General Insurance Company Ltd.
13. SBI General Insurance Company Ltd.
14. Shriram General Insurance Co. Ltd.
15. Tata-AIG General Insurance Company Ltd.
16. Universal Sompo General Insurance Company Ltd.
17. Royal Sundaram General Insurance company Ltd.
18. Go-Digit General Insurance company Ltd.
19. Kshema General Insurance Limited
20. Raheja QBE General Insurance Company Ltd.
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