With reference to ‘Pradhan Mantri Fasal Bima Yojana’, consider the following statements:

1. Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.
2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.

Which of the statements given above is/are correct?

Let's analyze the statements related to the Pradhan Mantri Fasal Bima Yojana (PMFBY).

Statement 1: This statement is incorrect. Under PMFBY, farmers do not pay a uniform premium. The premium rates are capped at a maximum of 2% for food grains and oilseeds, and up to 5% for horticulture and cotton crops.

Statement 2: This statement is correct. PMFBY provides coverage for post-harvest losses for a maximum period of two weeks from harvesting. This coverage applies to crops that are left to dry in the field after harvesting and are damaged by specific perils such as cyclones, cyclonic rains, and unseasonal rains.

Statement 1 is not correct. Statement 2 is correct. Hence, only statement 2 is correct.

Sources:

• India.gov.in - Pradhan Mantri Fasal Bima Yojana