Insurance Day
Focus: India’s crop cover programme can learn from other countries
Agriculture is the primary sector of the Indian economy, employing 50% of the total workforce. Despite this, it accounts for
only 17% of the country’s GDP. Simply put, millions of agricultural workers in India live in poverty. The government has
recognised the need to address this problem and in February 2016 launched the Pradhan Mantri Fasal Bima Yojana (PMFBY) crop
insurance scheme to support the welfare of farmers.