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 kharif food and oilseed crops is 2% of the sum insured.
· The rest of the premium amount is shared between the central and state governments to provide financial support to farmers and ensure affordable crop insurance.
Key Details of PMFBY:
· Kharif Crops: Farmers pay 2% of the sum insured.
· Rabi Crops: Farmers pay 1.5% of the sum insured.
· Commercial/Horticultural Crops: Farmers pay 5% of the sum insured.
· The scheme aims to protect farmers against crop losses due to natural calamities, pests, and diseases.
Information Booster:
· PMFBY was launched in 2016 to replace older crop insurance schemes and offer simplified, more accessible insurance to farmers.
· It promotes increased agricultural productivity by reducing farmers' financial risks.