Q. With reference to the Pradhan Mantri Fasal Bima Yojana, consider the following statements:
1.Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as Natural Fire and Lightning and also certain local problems.
2.One of its objective is to encourage farmers to adopt innovative and modern agricultural practices.
Which of the statements given above is/are correct?
OBJECTIVES of the scheme- To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.
– To stabilise the income of farmers to ensure their continuance in farming.
– To encourage farmers to adopt innovative and modern agricultural practices.
– To ensure flow of credit to the agriculture sector.
Risks covered under the scheme-Yield Losses (standing crops, on notified area basis). Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as Natural Fire and Lightning, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado. Risks due to Flood, Inundation and Landslide, Drought, Dry spells, Pests/ Diseases also will be covered.
For certain localized problems, Loss / damage resulting from occurrence of identified localized risks like hailstorm, landslide, and Inundation affecting isolated farms in the notified area would also be covered.
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