With reference to ‘Pradhan Mantri Fasal Bima Yojana’, consider the following statements:
- 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.
- This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.
Which of the statements given above is/ are correct?
[UPSC Civil Services Exam – 2015 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
- Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.
- It was launched in 2016 by the Ministry of Agriculture and Farmers Welfare.
- Under this scheme farmers will have to pay a uniform premium of 2% for all Kharif crops and 1.5% for all Rabi crops and 5% in the case of annual commercial and horticultural crops. (Hence statement 1 is incorrect)
- The PMFBY offers insurance cover to farmers against post-harvest losses arising out of cyclones and unseasonal rains. Hence the statement 2 is correct.