Which of the following schemes is primarily implemented by the Agriculture Insurance Company of India (AIC)?
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The Pradhan Mantri Fasal Bima Yojana (PMFBY) is the scheme that is primarily implemented by the Agriculture Insurance Company of India (AIC). Launched in 2016, PMFBY aims to provide comprehensive crop insurance coverage to farmers against losses arising from natural calamities, pests, and diseases. AIC plays a pivotal role in the implementation and management of this scheme across various states in India. The objective of PMFBY is to stabilize farmers’ income, ensure their creditworthiness, and encourage them to adopt innovative and modern agricultural practices. Through this scheme, AIC helps mitigate the financial risks associated with farming and supports the long-term sustainability of India’s agricultural sector.
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