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Byju's Answer
Standard XII
Economics
Types of Borrowing
4. Consider t...
Question

4. Consider the following statements,

1] PradhanMantriFasalBimaYojana (PMFBY) Provide comprehensive insurance coverage against crop loss on account of non-preventable natural risks, thus helping in stabilising the income of the farmers and encourage them for adoption of innovative practices.

2] The PMFBY is compulsory for loanee farmers availing crop loans for notified crops in notified areas and voluntary for non-loanee farmers.

Which of the above statements is/are incorrect?


A
a) 1 Only
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B
b) 2 Only
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C
c) Both 1 and 2
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D
d) Neither 1 nor 2
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Solution

The correct option is D d) Neither 1 nor 2

Ans d) Neither 1 nor 2

Both the statements are correct.

Explanation: PradhanMantriFasalBimaYojana (PMFBY) Provide comprehensive insurance coverage against crop loss on account of non-preventable natural risks, thus helping in stabilising the income of the farmers and encourage them for adoption of innovative practices.The PMFBY is compulsory for loanee farmers availing crop loans for notified crops in notified areas and voluntary for non-loanee farmers.


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Q.

Q13) Consider the following statements about Pradhan Mantri Fasal Bima Yojana)

1. There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops.

2.In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.

3.Post-Harvest losses are also included)

Which of the above statements is/are correct?


Q. Statement: Major part of the rabi crop in the district is damaged due to unseasonal heavy rains during the last few days.
Courses of Action:
I. The government should grant relief to the affected farmers to compensate their loss.
II. The government should provide free seed and fertilizer to the farmers for the kharif season.
III. The government should waive all the loans taken for the rabi crop by the affected farmers.
Q.

Q64. Consider the following statement about Pradhan Mantri Fasal Bima Yojana (PMFBY)

1. Uniform maximum premium for kharif crops paid by farmers is 2 percent

2. Uniform maximum premium for Rabi crops paid by farmers is 3 percent

3. In case of annual commercial and horticultural crops this rate will be 5 per cent.

Which of the above statement(s) is/are correct?


Q. The situation where farmers face loss due to crop failure and become unable to pay loans, is known as _______.
Q. The Ministry of Agriculture released Operational Guidelines for the Unified Package Insurance Scheme (UPIS) will provide insurance products to farmers, on the payment of a single premium. These products include:Which of the above statement(s) is/are correct?
  1. Only 1,3&4
  2. Only 1,2&3
  3. Only 2,3&4
  4. All of the above
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