Pradhan Mantri Fasal Bima Yojana
Question
With reference to 'Pradhan Mantri Fasal Bima Yojana', consider the following statements:
Which of the statements given above is/are correct?
- 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.
Options
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Explanation
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched in 2016. Statement 1 is incorrect because the premium structure is not uniform at two percent for all crops and seasons; premiums vary by crop and season. For kharif crops, farmers pay 2% premium, and for rabi crops, they pay 1.5% premium; for horticultural crops, it can be higher. Statement 2 is correct as the scheme explicitly covers post-harvest losses arising from cyclones and unseasonal rains for a specified period after harvest. The scheme aims to provide comprehensive crop insurance coverage to farmers at affordable premiums. > Key point: PMFBY has variable premiums based on crop type and season, not a uniform 2% rate across all cases. Answer: (b).
Question details
Year
2016
Paper
GS Paper 1
Question
Q21
Subject
Economy
Sub-topic
Agricultural Insurance Scheme
Type
Statement-based
Difficulty
Medium
Nature
Static
Source hint
UPSC 2016 GS Paper 1
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