Question

What is the premium rates for Rabi season crops to be paid by farmers in PMFBY scheme?

• A. 1.5 percent
• B. 2 percent
• C. 2.5 percent
• D. 3 percent

Hint:

PMFBY charges farmers 2 percent for Kharif and a lower fixed rate for Rabi food/oilseed crops.

Answer 1

The Correct Option is A

Step 1: Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), the farmer pays only a small fixed share of the actuarial premium, and the government subsidizes the rest.

Step 2: The fixed farmer premium rates are 2 percent of sum insured for Kharif food and oilseed crops, 1.5 percent for Rabi food and oilseed crops, and 5 percent for annual commercial and horticultural crops.

Step 3: So for Rabi season crops, the farmer pays a premium of 1.5 percent.