Under Pradhan Mantri Fasal Bima Yojana, the maximum premium payable by the farmers will be _________ for all kharif food and oilseeds crops.

Correct option is B

The correct answer is (b) 2%.
· Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), the maximum premium payable by farmers for all kharif food and oilseeds crops is 2% of the sum insured.
· The government subsidizes the rest of the premium to provide affordable crop insurance for farmers.
· This scheme aims to protect farmers from losses due to natural calamities, pests, and diseases.
Information Booster:
· The premium for rabi crops is set at 1.5% of the sum insured.
· For commercial and horticultural crops, the premium is 5%.
· The scheme provides coverage for risks like droughts, floods, pests, and disease outbreaks. The remaining premium amount is borne by the central and state governments.
· PMFBY aims to ensure financial stability for farmers by covering crop losses due to unpredictable risks.
· This scheme also promotes the use of modern technology in farming by reducing the financial burden on farmers.