Agricultural Insurance in India is covered by “National Crop Insurance Programme” which was launched by UPA government in 2013 by merging three schemes viz. Modified National Agricultural insurance Scheme (MNAIS), Weather Based Crop insurance Scheme (WBCIS) and Coconut Palm Insurance Scheme (CPIS). These three schemes now serve as components of the NCIP.
- To provide financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests and diseases.
- To restore the credit worthiness of farmers arising out of crop losses leading to no repayment of crop loans.
- To encourage the farmers to adopt progressive farming practices, high value in-puts and higher technology in Agriculture.
- To help stabilize farm incomes, particularly in disaster years.
All farmers who are farming crops like:
- Food Crops (Cereals, Millets and Pulses)
- Annual Commercial/Horticulture Crops
- Farmers who have taken crops on loans
- Non loan farmers can also insure their crops
Risk Covered under crop insurance scheme:
- Natural Fire and Lightening, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood, Inundation and Landslide
- Drought, Dry spells
- Pests / Diseases etc. in Area-Yield
- Index insurance Schemes
- Financial support to farmers for losses in their crop yield.
- States implementing MNAIS at village/village panchayat level are entitled for 50% reimbursement.
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