Presently the farmers of Nanded district have been become a victim of crop loss due to crop failure because heavy rain in monsoon season of 2022, so economic condition of farmers has been weaker, so farmers are facing different challenging situation and leading to extremely hopeless and committing suicide. The present research article showing an overview of the impact of Pradhan Mantri Fasal Bima Yojana in development of socio-economic status of farmers in Nanded district. The Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched in Kharif 2016 Supporting agriculture by providing affordable crops Insurance production ensures comprehensive risk protection for farmers' crops All natural hazards that can be prevented from pre-sowing to post-harvest stage and process of crop loss assessment coverage of crops etc.