Consider the following statements regarding the Pradhan Mantri Fasal Bima Yojana (PMFBY): Statement 1: It is an actuarial premium-based crop insurance scheme where farmers pay a uniform premium of only 2% for all Kharif crops, 1.5% for Rabi crops, and 5% for annual commercial and horticultural crops. Statement 2: The difference between actuarial premium and the rate of premium payable by farmers is shared equally between the Central and State Governments as a premium subsidy (subject to capping limits in non-NE states). Statement 3: It covers all stages of the crop cycle, including prevented sowing, mid-season adversity, and post-harvest losses up to two weeks after harvest. Which of the statements above are correct?

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Current Affairs · Government Schemes

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

All three statements (1, 2, and 3) are correct

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Answer 1

Only Statement 1 and Statement 3

Answer 2

All three statements (1, 2, and 3) are correct

Answer 3

Only Statement 2 and Statement 3

Answer 4

Only Statement 1 and Statement 2

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