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With reference to Pradhan Matri Fasal Bima Yojna, consider the following statements:
1. It has been in continuation along with the National Agricultural Insurance Scheme (NAIS).
2. It provide comprehensive insurance cover against the failure of the crop.
Which of the statements given above is/are correct?
  • 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 Pradhan Matri Fasal Bima Yojna, consider the followi...
  • Pradhan Matri Fasal Bima Yojna was launched in 2016 and is being administered by the Ministry of Agriculture and Farmers Welfare.
  • It replaced the National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS). Hence, statement 1 is not correct.
  • Aim:
    • To provide comprehensive insurance cover against the failure of the crop thus helping in stabilizing the income of the farmers. Hence, statement 2 is correct.
  • Scope:
    • All food & oilseed crops and annual commercial/horticultural crops for which past yield data is available.
  • Premium:
    • 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 was equally subsidized by States and GoI.
    • However, GoI shared 90% of the premium subsidy for Northeastern States to promote the uptake in the region.
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With reference to Pradhan Matri Fasal Bima Yojna, consider the following statements:1. It has been in continuation along with the National Agricultural Insurance Scheme (NAIS).2. It provide comprehensive insurance cover against the failure of the crop.Which of the statements given above is/are correct?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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