IAS Gyan

Daily News Analysis

PRADHAN MANTRI FASAL BIMA YOJANA

12th April, 2023 POLITY AND GOVERNANCE

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Context: The Prime Minister expressed satisfaction over the outcomes of the Pradhan Mantri Fasal Bima Yojana, saying that there is no greater happiness than seeing our farming brothers and sisters' faces lighted by the pleasure that the programme has brought about.

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Pradhan Mantri Fasal Bima Yojana: https://www.iasgyan.in/daily-current-affairs/pradhan-mantri-fasal-bima-yojana-pmfby

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.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1915547