Question

Q. Which of the following statements is/are correct about Pradhan Mantri Fasal Bima Yojana (PMFBY)?

Select the correct answer using the codes given below:

• A. 2 only
• B. 1 and 3 only
• C. 2 and 3 only
• D. 1, 2, 3

Answer 1

The correct option is C 2 and 3 only

Explanation:

Statement 1 is incorrect. The premium for farmers: 2% for Kharif food and oilseeds crops, 1.5% for Rabi food and oilseeds crops, 5% for annual commercial/horticultural crops.

Statement 2 is correct. There is no cap on subsidies paid by the government.

Statement 3 is correct. PMFBY also covers post-harvest losses for a period of a maximum of 14 days from the date of harvesting crops.