Consider the following statements about Pradhan Mantri Fasal Bima Yojana:
- Both central and state governments share premium equally within upper limit of 75% of sum insured.
- The scheme envisages involvement of private insurance companies.
- The scheme is mandatory for loanee farmers and optional for non-loanee farmers.
Which of the above statements is/are correct?
First statement is incorrect because the scheme sets no capping on Government subsidy over farmers claim. Third statement is incorrect because the scheme is optional for both loanee farmers and non-loanee farmers.
This question is a part of GKToday's Integrated IAS General Studies Module