Q46.
With reference to 'Pradhan Mantri Fasal Bima Yojana', consider the following statements: 1. Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year. 2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains. Which of the statements given above is/are correct?
Answer
B
Explanation
Pradhan Mantri Fasal Bima Yojana (PMFBY) is the new crop damage insurance scheme approved by the Union Cabinet in January 2016. 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. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%. Statement 1 is incorrect as 2% is only for Kharif crops, not all crops. Post-harvest losses coverage includes (individual farm basis): Coverage is available up to a maximum period of 14 days from harvesting for those crops which are kept in 'cut & spread' condition to dry in the field after harvesting, against specific perils of cyclone/cyclonic rains, unseasonal rains throughout the country. Statement 2 is correct.