Economics • Indian EconomyMedium
Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), what is the maximum uniform premium rate payable by farmers for all Kharif food and oilseed crops?
A. 2.0%✓ Correct Answer
B. 1.5%
C. 5.0%
D. 3.5%
💡 Solution & Explanation
The Pradhan Mantri Fasal Bima Yojana prescribes a maximum uniform farmer premium of 2.0 percent for all Kharif food and oilseed crops to ensure affordable risk coverage. For Rabi crops, the uniform premium is capped at 1.5 percent, while commercial crops attract a 5.0 percent rate. Agricultural insurance schemes form an integral part of Indian economy questions.
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