Pradhan Mantri Fasal Bima Yojna
Posted on : 27 Jan 2020Views: 520
- The scheme was launched by the government of India on 18th February 2016.
- It provides a comprehensive insurance cover against the failure of the crop thus helping in stabilising the income of the farmers.
- In the event of a crop loss, the farmer will be paid based on the difference between the threshold yield and actual yield.
- The threshold yield is calculated based on average yield for the last seven years and the extent of compensation is set according to the degree of risk for the notified crop.
- The scheme is being administered by the Ministry of Agriculture and is compulsory for loanee farmers availing Crop Loan /KCC account for notified crops and voluntary for other others.
- The scheme ensures farmers against a wide range of external risks — droughts, dry spells, floods, inundation, pests and diseases, landslides, natural fire and lightning, hailstorms, cyclones, typhoons, tempests, hurricanes and tornadoes.
- The scheme also covers post-harvest losses up to a period of 14 days.
- The farmer has to pay a premium of 2 per cent of the sum insured for all Kharif crops and 1.5 per cent of it for all rabi crops.
- For horticulture and commercial crops, the premium is 5 per cent of the sum covered. The remaining premium is paid by the government.
- The scheme is implemented by empanelled general insurance companies.
- Selection of Implementing Agency (IA) is done by the concerned State Government through bidding.
Article Related Questions
Consider the following statements regarding Pradhan Mantri Fasal Bima Yojna
1.The threshold yield for calculation of compensation to the farmer is based on an average yield of the crop for the last 2 cropping seasons.
2.Post-harvest losses up to a period of 30 days are covered under this scheme.
3.For horticulture and commercial crops, the premium paid by the farmer is 5% of the sum covered.
4.Selection of Implementing Agency (IA) in the state is done by the Union Ministry of Agriculture.
Which of the above statements are incorrect?
1.1, 2 and 4 only
2.1 and 3 only
3.1 and 4 only
4.2, 3 and 4 only
Right Ans : 1, 2 and 4 only