Question
Download Solution PDFWhat is the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
This question was previously asked in
UP Police Constable Re-Exam 2024 Official Paper (Held On: 25 Aug, 2024 Shift 2)
Answer (Detailed Solution Below)
Option 4 : Supports sustainable production in the agriculture sector.
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UP Police Constable हिंदी (मॉक टेस्ट)
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Detailed Solution
Download Solution PDFThe correct answer is option 4
Key Points
- The Pradhan Mantri Fasal Bima Yojana (PMFBY) supports sustainable production in the agriculture sector.
- PMFBY aims to provide insurance coverage and financial support to farmers in the event of crop failures due to natural calamities, pests, and diseases.
- The scheme helps to stabilize farmers' income and encourages them to adopt innovative and modern agricultural practices.
- It also aims to ensure the flow of credit to the agriculture sector, which can lead to increased agricultural productivity and growth.
- PMFBY is a major initiative by the Indian government to mitigate the risks faced by farmers and to promote sustainable agricultural practices.
Additional Information
- The Pradhan Mantri Fasal Bima Yojana was launched on 18th February 2016 by the Government of India.
- The scheme is implemented by the Ministry of Agriculture and Farmers' Welfare.
- It replaces the earlier National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS).
- Farmers only have to pay a nominal share of the premium, while the remaining premium is shared by the central and state governments.
- The scheme covers all food & oilseed crops and annual commercial/horticultural crops for which past yield data is available.
- PMFBY also aims to adopt a technology-driven approach by using remote sensing, smartphones, and drones for quick estimation of crop losses to ensure faster claim settlements.
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