Current Affairs

Pradhan Mantri Fasal Bima Yojana

Current context: The Union Cabinet approved the PM Fasal Bima Yojana scheme (PMFBY) on 13th of January in 2016 and the scheme was launched in February 2016.
Pradhan Mantri Fasal Bima Yojana
  • The Centre is implementing PMFBY to provide financial support to farmers suffering crop loss or damage arising out of unforeseen events.
  • The scheme provides comprehensive insurance coverage against crop loss on account of non-preventable natural risks, thus helping stabilise farmers’ income.
  • Under it, there is a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops.
  • In the case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.
  • Balance premium will be paid by the Government to provide full insured amount to farmers against crop loss on account of natural calamities.

Question: 

Q.1 The Pradhan Mantri Fasal Bima Yojana was launched in which year?
a. 2014
b. 2015
c. 2016
d. 2017
Pradhan Mantri Fasal Bima Yojana Pradhan Mantri Fasal Bima Yojana Reviewed by Neha Verma on January 14, 2020 Rating: 5

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