UPSC Prelims 2016 · GS Paper 1 · Q21

Economy

Medium · Pradhan Mantri Fasal Bima Yojana

Consider the following statements regarding the Pradhan Mantri Fasal Bima Yojana:

1. It charges farmers a uniform premium of 2% of the sum insured for any crop grown in any season.

2. It covers post-harvest losses arising from cyclones and unseasonal rainfall.

Which of the statements given above is correct?