PRADHAN MANTRI FASAL BIMA YOJANA

PRACTICE QUESTION

Q. Consider the following Statement about the Pradhan Mantri Fasal Bima Yojana;

1.  The scheme is being administered under the Ministry of Finance.

2. The scheme excludes post-harvest and midseason adversities from coverage.

3. Loss or damage due to war is excluded from the coverage.

Which of the following Statement 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

Explanation:

Statement 1 is incorrect: This scheme is being administered by the Department of Agriculture, Cooperation and Farmers’ Welfare under the Ministry of Agriculture, along with empanelled general insurance companies.

Statement 2 is incorrect: The scheme provides coverage for the entire cropping cycle from pre-sowing to post-harvest and midseason adversities. The primary goal of the initiative is to reduce the burden of insurance premiums on farmers and ensure early settlement of claims.

Statement 3 is correct: Loss or damage to notified insured crops due to war, nuclear risks, malicious damage and other preventable risks are excluded from the scope of coverage.