Aqua Insurance
Context:
The Union Minister of Fisheries, Animal Husbandry & Dairying awarded the first-ever Aqua Insurance to beneficiaries under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY). Also launched: VyAS-NAV mobile app for the 5th Marine Fisheries Census.
Relevance:
GS-02 (Government policies and interventions)
About PM-MKSSY & Aqua Insurance:
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Sub-scheme of: Pradhan Mantri Matsya Sampada Yojana (PMMSY).
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Aim: Strengthen the financial security of aquafarmers through insurance for aquaculture losses.
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Eligibility:
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Individual fish farmers
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Firms, cooperatives, companies
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FFPOs (Fish Farmer Producer Organisations)
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Premium Coverage:
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Maximum insured amount: ₹1 lakh per farmer
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Coverage volume: Up to 1800 m³ water area
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Social Inclusion:
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Additional 10% premium incentive for SC/ST/women beneficiaries
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Duration: Covers one crop cycle
About VyAS-NAV App:
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Developed for digital data collection under the 5th Marine Fisheries Census.
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Promotes real-time data gathering on fisheries and allied sectors.
Prelims Question:
Q. With reference to the Aqua Insurance under PM-MKSSY, consider the following statements:
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It offers insurance coverage of up to ₹1 lakh for aquafarmers.
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Only individual farmers are eligible under this scheme.
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SC, ST, and women farmers receive a 10% premium incentive.
Which of the statements is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer: (b) 1 and 3 only
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