Crop insurance cover of up to Rs. 2 lakh per hectare.

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the government of India in 2016. The scheme provides insurance cover to farmers against crop losses due to natural calamities such as drought, flood, hailstorm, and pest attack. The scheme is compulsory for all farmers who avail crop loans from banks. However, farmers who do not avail crop loans can also opt for the scheme on a voluntary basis.

The PMFBY provides insurance cover of up to Rs. 2 lakh per hectare for all kharif and rabi crops. The premium for the scheme is shared between the central government, state governments, and farmers. The central government bears 50% of the premium, the state governments bear 30% of the premium, and the farmers bear 20% of the premium.

The PMFBY has been a major success since its launch. In the first three years of the scheme, over 12 crore farmers have been insured and over Rs. 10,000 crore has been paid out as claims to farmers who have suffered crop losses. The scheme has helped to protect farmers' incomes and has also helped to boost agricultural production.

The PMFBY is a major step by the government of India to support the agriculture sector and ensure food security for the country. The scheme has been a major success and has helped to protect farmers' incomes and boost agricultural production.