Which of the following statements is are correct with regard to Pradhan Mantri Fasal Bima Yojana 1 I...........

Economic Affairs Agricultural Finance

Download Solution PDF

Which of the following statements is/ are correct with regard to Pradhan Mantri Fasal Bima Yojana?

1. It replaces the existing scheme of National Agricultural Insurance Scheme.

2. It does not cover horticulture and commercial crops.

3. It provide post harvest coverage.

Select the correct answer using the code given below.

1 only

2 only

1 and 3 only

1, 2 and 3

छोटे Courses बड़े Results

Master Agricultural Finance

Prepare through Micro-courses

Try Now

Explanation:

It covers both commercial and horticulture crops
•    The scheme covers kharif, rabi as well as annual commercial and horticultural crops. For Kharif crops, the premium charged would be up to 2% of the sum insured. For Rabi crops, the premium would be up to 1.5% of the sum assured. For annual commercial and horticultural crops, premium would be 5 per cent.
•    The remaining share of premium will be borne equally by the central and respective state governments.
•    All farmers growing notified crops in a notified area during the season who have insurable interest in the crop are eligible for the scheme.