| Consider the following statements about Pradhan Mantri Fasal Bima Yojana (PMFBY). |
| 1. It replaces two schemes National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (NNAIS). |
| 2. Under this, farmers will pay uniform premium of 2% for all Kharif crops and 1.5% for all Rabi crop |
| 3. There is upper limit on Government Subsidy, if balance premium is 90%, borne by both Central State government. |
| 4. Smart phones will be used to capture and upload data of crop cutting to reduce the delays in payment to farmers, |
| Which of the statement given above are correct? |
A) 1, 2 and 3
B) 1, 2 and 4
C) 2, 3 and 4
D) All of these
Correct Answer: B
Solution :
[b]| PMFBY, a new crop Insurance Scheme Its in line with One Nation-One Scheme theme and a path breaking scheme for farmers' welfare, launched in 2016. It replaces two schemes NAIS (1999) and MNAIS (2010). |
| The main provision of the scheme are as follow: |
| (i) 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%. The premium rates to be paid by farmers are very low and balance premium will be paid by the Government to provide full insured amount to the farmers against crop loss on account of natural calamities. |
| (ii) There is no upper limit on Government subsidy. Even if balance premium is 90%, it will be borne by the Government. |
| (iii) Earlier, there was a provision of capping the premium rate which resulted in low claims being paid to farmers. |
| (iv) The use of technology will be encouraged to a great extent. Smart phones will be used to capture and upload data of crop cutting to reduce the delays in claim payment to farmers. Remote sensing will be used to reduce the number of crop cutting experiments. |
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