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With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:
1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.
2. There is no upper limit on Government subsidy.
2. There is no upper limit on Government subsidy.
Select the correct answer using the code given below:
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
With reference to the Pradhan Mantri Fasal Bima Yojana, consider the f...
Statement 1 is not correct: Pradhan Mantri Fasal Bima Yojana was launched on 13th January 2016, in line with the One Nation-One Scheme theme, covering over 5.5 crore farmer applications year on year. This scheme replaced two schemes called National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS).
The Scheme shall be implemented on an ‘Area Approach basis’ i.e., Defined Areas for each notified crop for widespread calamities. It aims to provide Insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases. The premium rates to be paid by farmers are very low and the balance premium is paid by the Government to provide the full insured amount to the farmers. The prescribed premium is 2% to be paid by farmers for all Kharif crops and 1.5% for all rabi crops.
In the case of annual commercial and horticultural crops, the premium is 5%.
The Scheme shall be implemented on an ‘Area Approach basis’ i.e., Defined Areas for each notified crop for widespread calamities. It aims to provide Insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases. The premium rates to be paid by farmers are very low and the balance premium is paid by the Government to provide the full insured amount to the farmers. The prescribed premium is 2% to be paid by farmers for all Kharif crops and 1.5% for all rabi crops.
In the case of annual commercial and horticultural crops, the premium is 5%.
- Premium cost over and above the farmer share is equally subsidised by the States and the Center.
- However, the Centre’s share is 90% of the premium subsidy for the Northeastern States to promote the uptake in the region.
Statement 2 is correct: It shall be implemented through a multi-agency framework by selected insurance companies under the overall guidance & control of the Department of Agriculture and state government. There is no upper limit on Government subsidies.
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With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:1. The prescribed premium is 2% to be paid by farmers for all rabi crops and 1.5% for all Kharif crops.2. There is no upper limit on Government subsidy.Select the correct answer using the code given below:a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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