The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in February 2016, aims to provide financial support to farmers suffering crop loss/damage arising out of natural calamities. Under this scheme, maximum premium payable by farmers is 2 per cent for all food and oilseeds crops grown in the kharif (summer) season, 1.5 per cent for same crops grown in rabi (winter) season and 5 per cent for commercial and horticulture crops.source https://economictimes.indiatimes.com/industry/banking/finance/insure/government-plans-to-revamp-crop-cover-scheme-pmfby-to-woo-more-insurers-and-rationalise-premium/articleshow/93928030.cms
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