New crop insurance scheme to get revamp

The Indian government has decided to call off the newly launched  crop insurance programme titled ‘Modified National Agricultural Insurance Scheme’.

 
The agriculture ministry will revamp the crop insurance scheme with a focus on increasing crop-based income for the farmers rather than insuring them against crop losses. According to official sources, the current scheme requires the government, farmers and the private companies to pay the money for the insurance, but the money pay back is too complicated and difficult for the farmers to get the income in case of crop failure.

A hurdle with the scheme is that a farmer gets the insurance money if there is a total crop loss. If there is a crop loss for a single farmer, getting the money is not feasible most of the time, officials said.   

Officials added that the revamp will also focus on simplifying the procedure for the farmer to get the money in the event of crop failure of a single farmer.