Under Pradhan Mantri Fasal Bima Yojana, the maximum premium payable by the farmers will be _________ for horticulture crops.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 5%.
Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), the maximum premium payable by farmers for annual commercial and horticultural crops is 5% of the sum insured .This rate ensures affordable coverage for these high-value crops, with the remaining premium subsidized equally by the Central and State governments.