Development Experiences in India — Economics STD 11 — Question

To protect the farmers from natural calamities and ensure their credit eligibility for the next season, the Government of India introduced many agricultural schemes throughout the country.
One of the schemes is the Pradhan Mantri Fasal Bima Yojana which was launched on 18 February 2016. It envisages a uniform premium of 2% for Kharif and 1.5% for Rabi and 5% for commercial and horticultural crops.