Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), what is the uniform maximum insurance premium percentage payable by farmers for all foodgrain and oilseed Kharif crops?

Question

Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), what is the uniform maximum insurance premium percentage payable by farmers for all foodgrain and oilseed Kharif crops? (प्रधानमंत्री फसल बीमा योजना (PMFBY) के अंतर्गत खरीफ की खाद्यान्न एवं तिलहन फसलों हेतु किसान द्वारा देय अधिकतम प्रीमियम दर कितने प्रतिशत है?)

Think Extraordinary · Accepted Answer

Correct Answer: Option A. 2.0% of the sum insured. Explanation: Under PMFBY (launched 2016), farmers pay a maximum premium of 2.0% for Kharif food/oilseed crops, 1.5% for all Rabi crops, and 5.0% for annual commercial/horticultural crops, with remaining premium subsidized by Central and State Governments.

Answer

Option B: 1.5% of sum insured

Answer

Option C: 5.0% of sum insured

Answer

Option D: 10% of sum insured

Agricultural Economics and Extension Education

Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), what is the uniform maximum insurance premium percentage payable by farmers for all foodgrain and oilseed Kharif crops?