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?
Answer: A
Notes:
PMFBY
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
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