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    Question

    Consider the following statements regarding Pradhan

    Mantri Fasal Bima Yojna: 1.It is being administered by the Ministry of Agriculture and Farmers Welfare. 2.It aims to provide insurance coverage and financial support to the farmers in the event of the failure of any crops. 3.It is currently the largest crop insurance scheme in the world in terms of farmer enrolments. Which of the statements given above is/are correct?
    A 1 and 3 only Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    PMFBY 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). Objectives: тАвTo 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. тАвTo stabilize the income of farmers to ensure their continuance in farming. тАвTo encourage farmers to adopt innovative and modern agricultural practices.

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