Which of the following losses risks is are covered under the Pradhan Mantri Fasal Bima Yojana PMFBY ...........

Economic and Social Issues Agriculture - Caracterstics and trends

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Which of the following losses/risks is/are covered under the Pradhan Mantri Fasal Bima Yojana (PMFBY)?

Prevented from sowing/planting the insured crop due to adverse weather conditions
Yield losses due Natural Fire and Lightning, Storm, Hailstorm
Individual farm level losses arising out of localized calamities

Select the correct code.

2 only

1&2 only

2&3 only

All of the above

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Explanation:

All statements are correct.

The Pradhan Mantri Fasal Bima Yojana (PMFBY) recently completed five years in operation. Premium cost over and above the farmer share is equally subsidized by States and GoI. However, GoI shares 90% of the premium subsidy for North Eastern States to promote the uptake in the region. Risks covered under PMFBY:

Yield losses due to non-preventable risks, such as (i) Natural Fire and Lightning (ii) Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado etc. (iii) Flood, Inundation and Landslide (iv) Drought, Dry spells (v) Pests/ Diseases etc.
In cases where majority of the insured farmers of a notified area, having intent to sow/plant and incurred expenditure for the purpose, are prevented from sowing/planting the insured crop due to adverse weather conditions
Post Harvest (individual farm basis) Coverage is available upto a maximum period of 14 days from harvesting specific perils of cyclone / cyclonic rains, unseasonal rains throughout the country.
Localised Calamities (individual farm basis) Loss resulting from occurrence of identified localized risks i.e. hailstorm, landslide, and Inundation affecting isolated farms in the notified area.

Hence option 4th is correct.