Agricultural Insurance Schemes in India
Explore the key agricultural insurance schemes in India, including Crop Insurance Scheme, Comprehensive Crop Insurance Scheme, National Agricultural Insurance Scheme (NAIS), Agricultural Insurance Company of India (AIC), and Weather Insurance. Learn about their functions, advantages, limitations, and how they support farmers in managing risks and enhancing productivity in the agricultural sector.
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Presentation Transcript
LECTURE PREPARED BY - Dr. J P Singh Associate Professor (SGRRU, Dehradun ) DEPARTMENT of AGRICULTURE SHRI GURU RAMRAI UNIVERSITY, DEHRADUN UTTARAKHAND
Outline Crop insurance meaning Advantages Progress of crop insurance scheme in India Limitations in application Agricultural insurance company of India National agricultural insurance scheme Weather insurance
Crop Insurance Scheme Insurance is legal contract that transfers risk from a policy holder to an insurance company in exchange for a premium. Four major general insurance corporation(GIC) are there- United india insurance company limited general insurance corporation(GI C) The new india Assurance company limited National insurance company limited The oriental insurance company limited
Comprehensive Crop Insurance Scheme CCIS covers all farmers who availed the crop loan and it is limited to cereals such as paddy wheat millets oil seeds and pulses. Advantages It stabilizes the farm business The farmer can get much more in farm business. It prevents the farmers to approach non agencies Enhances the use of modern input to boost the productivity. High risk area crop insurance serves as a catalyst in bringing areas under cultivation. Disdvantages Provides coverage only to a limited number of crops Coverage are restricted to rainfed crops Scheme covered only those farmers who had availed crop loans. institutional
National Agricultural Insurance Scheme (NAIS) Functions- Also called Bhartiya krishi bhima yojana. Launched by Atal Bihari Vajpayee. Scheme for crops like cereals, pulses, oil seeds, sugarcane, potatoes and cotton.
Agricultural Insurance Company of India (AIC) Functions- Has been formed by GOI in 2003. To move towards Sustainable actuarial regime. It is public sector undertakings with headquarters at new Delhi. Provide area based and weather based crop insurance programs in 500 districts.
Weather Insurance Functions- Weather insurance has emerged as a ray of hope to the farmers to tackle the uncertain pattern of their crops. Weather insurance is a insurance to cover against crop losses due unfavorable weather conditions.
Thank you Prepared By - Dr. J P SINGH ASSOCIATE PROFESSOR DEPARTMENT OF AGRICULTURE AND AGRONOMY
