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?
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?
The correct option is C (c) Only 1 and 3
Under the PMFBY, a uniform maximum premium of only 2 per cent will be paid by farmers for all Kharif Crops and 1.5 per cent for all Rabi Crops. In case of annual commercial and horticultural crops, the maximum premium to be paid by farmers will be only 5 per cent. The premium rates to be paid by farmers are very low and balance premium will be paid by the Government to provide full insured amount to the farmers against crop loss on account of natural calamities.
(c) Only 1 and 3
Under the PMFBY, a uniform maximum premium of only 2 per cent will be paid by farmers for all Kharif Crops and 1.5 per cent for all Rabi Crops. In case of annual commercial and horticultural crops, the maximum premium to be paid by farmers will be only 5 per cent. The premium rates to be paid by farmers are very low and balance premium will be paid by the Government to provide full insured amount to the farmers against crop loss on account of natural calamities.
