Context:
Centre, States discuss new mechanism for gathering crop data.
Pradhan Mantri Fasal Bima Yojana (PMFBY):
- Launched in – 2016, replacing the National Agricultural Insurance Scheme (NAIS)
- Objective – To provide insurance coverage and financial support to farmers in the event of crop failure due to natural calamities, pests, and diseases.
- Coverage – Includes all food and oilseed crops, as well as annual commercial/horticultural crops for which past yield data is available
- States can choose additional risk coverages and features
- Premium Rates –
- Kharif crops: 2% of the sum insured to be paid by farmers
- Rabi crops: 1.5% of the sum insured
- Annual commercial/horticultural crops: 5% of the sum insured
- Subsidy – The government bears the balance premium amount, ensuring that full insured amount is provided to farmers
- States must release their share of the premium subsidy on time to participate in subsequent seasons
- From Kharif 2020, enrollment is voluntary for all farmers
Source: The Hindu
Previous Year Question
Which one of the following best describes the main objective of Seed Village Concept?
[UPSC Civil Services Exam – 2015 Prelims]
(a) Encouraging the farmers to use their own farm seeds and discouraging them to buy the seeds from others
(b) Involving the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable cost
(c) Earmarking some villages exclusively for the production of certified seeds
(d) Identifying the entrepreneurs in villages and providing them technology and finance to set up seed companies
Answer: (b)
