With reference to the Pradhan Mantri Fasal Bima Yojana consider the following statements 1 It replac...........

Economic Affairs Agricultural Finance

With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:

1. It replaces the National Agricultural Insurance Scheme and the Modified (National Agricultural Insurance scheme) NAIS.

2. Post- harvest losses except risks of localized calamities are covered under this scheme.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

छोटे Courses बड़े Results

Master Agricultural Finance

Prepare through Micro-courses

Try Now

Explanation:

Statement 1 is correct. The Pradhan Mantri Fasal Bima Yojana is in line with One Nation - One Scheme theme. It incorporates the best features of all previous schemes and at the same time, all previous shortcomings / weaknesses have been removed. The PMFBY will replace the existing two schemes National Agricultural Insurance Scheme as well as the Modified National Agricultural Insurance Scheme (NAIS). Statement 2 is incorrect. In post-harvest losses, coverage will be available up to a maximum period of 14 days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field. For certain localized problems such as loss or damage resulting from occurrence of identified localized risks like hailstorm, landslide, and Inundation affecting isolated farms in the notified area would also be covered.