Q: With reference to ‘Pradhan MantriFasalBimaYojana’, consider the following statements:
a) Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.
b) This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.
The correct answer is 2 only.
- Pradhan Mantri Fasal Bima Yojana (PMFBY)
- It is a government-sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.
- This scheme was launched in 2016 by the Ministry of Agriculture and Farmers Welfare.
- Under this scheme farmers will have to pay a uniform premium of 2% for all Kharif crops and 1.5% for all Rabi crops and 5% in the case of annual commercial and horticultural crops. Hence statement 1 is not correct.
- It offers insurance cover to farmers against post-harvest losses arising out of cyclones and unseasonal rains. Hence the statement 2 is correct.
- Post-Harvest Losses coverage is available only up to a maximum period of two weeks from harvesting for those crops which are allowed to dry in cut and spread condition in the field after harvesting against specific perils of the cyclone and cyclonic rains and unseasonal rains.
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