[Feb] Pradhan Mantri Fasal Bima Yojana

Question 1

Objective?

Answer 1

stabilize income

Question 2

Coverage?

Answer 2

covers post harvest losse Includes food crops, oilseeds, commercial, horticulture etc.

Question 3

Features?

Answer 3

1. Completely Voluntary : from kharif 2020
2. if states don’t release their share before March 31 for the Kharif season and September 30 for rabi, they would not be allowed to participate in the scheme in subsequent seasons.
3. Insurance companies have to now spend 0.5% of the total premium collected on information, education and communication (IEC) activities.