With reference to lsquo Pradhan Mantri Fasal Bima Yojana rsquo consider the following statemen...........

Economic Affairs Agricultural Policy and Growth

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

1. 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.

2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.

Which of the statements given above is/are correct?

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1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Pradhan Mantri Fasal Bima Yojana (PMFBY) replaces the existing two crop insurance schemes National Agricultural Insurance Scheme (NAIS) and Modified NAIS.

Farmers’ premium has been kept at a maximum of 2 per cent for foodgrains and oilseeds, and up to 5 per cent for horticulture and cotton crops. So, it is different for different crops.

Post-Harvest Losses covers crops which are allowed to dry in cut and spread condition in the field after harvesting against specific perils of cyclone and cyclonic rains and unseasonal rains.