Consider the following statements with reference to the quot Pradhan Mantri Fasal Bima Yojana PMFBY ...........

Economic Affairs Agricultural Finance

Consider the following statements with reference to the"Pradhan Mantri Fasal Bima Yojana (PMFBY)" ?& "Restructured Weather Based Crop Insurance Scheme (RWBCIS)”,

Central Share in Premium Subsidy to be increased to 70% for North Eastern States from the existing sharing pattern of 50:50 for both schemes.
Enrolment under the Scheme to be made voluntary for all farmers for both schemes.
These changes are proposed to be implemented from Rabi’ 2020 Season throughout the Country.

Which of the statements given above is/are incorrect?

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

The Union Cabinet has approved revamping of "Pradhan Mantri Fasal Bima Yojana (PMFBY)" and "Restructured Weather Based Crop Insurance Scheme (RWBCIS)" to address the existing challenges in implementation of Crop Insurance Schemes.

It is proposed to modify following provisions of PMFBY and RWBCIS:

Allocation of business to Insurance Companies to be done for three years
Option shall be given to States/UTs to choose Scale of Finance or district level Value of Notional Average Yield (NAY) i.e. Minimum Support Price (MSP) as Sum Insured for any district crop combination
Central Subsidy under PMFBY/RWBCIS to be limited for premium rates upto 30% for unirrigated areas/crops and 25% for irrigated areas/crops. Districts having 50% or more irrigated area will be considered as irrigated area/district.
Enrolment under the Scheme to be made voluntary for all farmers.
Central Share in Premium Subsidy to be increased to 90% for North Eastern States from the existing sharing pattern of 50:50.
Provisioning of at least 3% of the total allocation for the Scheme to be made by Government of India and Implementing State Governments for administrative expenses. This shall be subject to an upper cap fixed by DAC&FW for each State.
These changes are proposed to be implemented from Kharif’ 2020 Season throughout the Country.