Aqua Insurance coverage – Believers IAS Academy

Aqua Insurance coverage

Context:

The Union Minister of Fisheries, Animal Husbandry & Dairying awarded the first-ever Aqua Insurance coverage to beneficiaries underneath the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). Additionally launched: VyAS-NAV cellular app for the fifth Marine Fisheries Census.

Relevance:

GS-02 (Authorities insurance policies and interventions)

About PM-MKSSY & Aqua Insurance coverage:

• Sub-scheme of: Pradhan Mantri Matsya Sampada Yojana (PMMSY).

• Goal: Strengthen the monetary safety of aquafarmers by means of insurance coverage for aquaculture losses.

• Eligibility:

  • Particular person fish farmers

  • Corporations, cooperatives, firms

  • FFPOs (Fish Farmer Producer Organisations)

• Premium Protection:

• Social Inclusion:

• Length: Covers one crop cycle

About VyAS-NAV App:

Prelims Query:

Q. On the subject of the Aqua Insurance coverage underneath PM-MKSSY, take into account the next statements:

1. It provides insurance coverage protection of as much as ₹1 lakh for aquafarmers.

2. Solely particular person farmers are eligible underneath this scheme.

3. SC, ST, and girls farmers obtain a ten% premium incentive.

Which of the statements is/are right?
(a) 1 and a pair of solely
(b) 1 and three solely
(c) 2 and three solely
(d) 1, 2 and three

Reply: (b) 1 and three solely