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      Question

      What is the highest insurance premium rate that farmers

      must pay for Kharif crops under the Pradhan Mantri Fasal Bima Yojana (PMFBY)? 
      A 1% Correct Answer Incorrect Answer
      B 1.5% Correct Answer Incorrect Answer
      C 2% Correct Answer Incorrect Answer
      D 2.5% Correct Answer Incorrect Answer

      Solution

      Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), farmers pay a maximum premium of 2% for Kharif crops. This governmentsponsored scheme aims to mitigate the financial risks due to crop failures caused by unforeseen events, ensuring minimal economic burden on the farmers.

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