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Confronted with incidents of farmer suicides due to drought and other factors, government will so... New insurance scheme for f

Confronted with incidents of farmer suicides due to drought and other factors, government will soon introduce a comprehensive weather-based crop specific insurance scheme in Maharashtra and a few other states.

Agriculture Insurance Company of India (AIC) would come out with a scheme during the coming Kharif season in June in Maharashtra, Jharkhand and Karnataka to provide better cover to farmers for crop failures.

He added that fast processing and timely settlement under the scheme would prevent farmer suicides to some extent, which is largely caused due to price loss and crop loss.

In Budget 2007-08, Rs 100 crore has been allocated as subsidy for the scheme, intended as an alternative to the National Agriculture Insurance Scheme (NAIS).

NAIS is an area-based yield guarantee insurance scheme, which requires sample surveys technically called Crop Cutting Experiments to assess how the scheme has fared.

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admin – Sun, 2007 – 04 – 15 11:00