Consider the following Statements. (i) Pradhan

Solution

After detailed discussions with various stakeholders including state governments, representatives of farmer organisations, Government of India had formulated the new crop insurance scheme, viz., Pradhan Mantri Fasal Bima Yojana (PMFBY), which is being implemented in various states/union territories of the country from Kharif 2016. The scheme is being implemented through 18 General Insurance Companies including all the 5 Government Sector Companies. Under PMFBY, a uniform maximum premium of only 2 per cent of the sum insured is paid by farmers for all Kharif crops and 1.5 per cent for all Rabi crops.