Q. Consider the following statements regarding PM Fasal Bima Yojna (PMFBY):
1. It covers Food crops , Commercial Crops and horticulture crops only
2. It provides premium of 1.5% for Kharif crops, 2% for Rabi cops & 5% for horticulture.
3. The scheme was launched under Ministry of Agriculture and Farmer Warfare
Which of the following is/are incorrect?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A


Aim: To provide comprehensive insurance cover against failure of the crop thus helping in stabilizing the income of the farmers. 

Statement 1 is incorrect: It covers a) food crops b) oilseed crops and c) annual commercial/horticultural crops. 

Statement 2 is incorrect: The prescribed premium is a) 2% for Kharif crops b) 1.5% for Rabi crops and c) 5% for commercial and horticultural crops. Balance of actuarial premium is shared equally between State and Central government 

Statement 3 is correct 

Source: DTE