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Consider the following statements:
1. Farm Income Insurance scheme at the beginning covered only rich and wheat crops.
2. National Agricultural Insurance scheme is withdrawn from the crops which are covered under the farm Income Insurance scheme.
Which of the statements given above is/are correct?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2.
Correct Option: C
The Central Government formulated the Farm Income Insurance Scheme (FIIS) during 2003-04. The scheme provided income protection to the farmers by insuring production and market risks. Initially, the scheme covered only wheat and rice and was compulsory for farmers availing crop loans. NAIS was withdrawn for the crops covered under FIIS.
