The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a significant initiative to provide financial protection to farmers in crop failure. The PMFBY was launched to address the vulnerability of Indian farmers to crop losses caused by natural calamities, pests, and diseases. This paper assesses the scheme's performance and proposes policy recommendations to optimise its impact. This paper evaluates the effectiveness of PMFBY, considering key aspects such as coverage, premiums, timeliness of payouts, awareness, risk management, and government support. Based on the evaluation, several policy recommendations are provided to enhance the scheme's efficiency, inclusivity, and sustainability.

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Keywords: Pradhan Mantri Fasal Bima Yojana, Evaluation, Policy Recommendation, Agriculture, Insurance Premium, Agriculture Insurance.