Question
Which of the following statements about the Pradhan
Mantri Fasal Bima Yojana (PMFBY) is/are correct? 1) It is a crop insurance scheme launched by the Government of India. 2) Under the scheme, farmers have to pay a premium of 5% of the sum insured for Kharif crops and 3% for Rabi crops. 3) It is 15% for horticulture cropsSolution
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Government of India. The scheme aims to provide insurance coverage and financial support to farmers in case of damage to crops due to natural calamities, pests and diseases. Under the scheme, farmers have to pay a premium of 2% of the sum insured for Kharif crops, 1.5% for Rabi crops, and 5% for horticulture crops.Â
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