Business

Monetary Support to States to have Own Crop Insurance Schemes

Monetary Support to States to have Own Crop Insurance Schemes

Monetary Support to States to have Own Crop Insurance Schemes

Keeping in view the requirements and agro-climatic conditions specific to each region, State Governments have been given the flexibility to develop suitable products for consideration and approval of the Central Government.

Central Government is providing monetary support under Crop Insurance Schemes in the form of premium subsidy between 40% to 75% in respect of Modified National Agricultural Insurance Scheme, Weather Based Crop Insurance Scheme and Coconut Palm Insurance Scheme. Under National Agricultural Insurance Scheme (NAIS), premium subsidy is provided to only small & marginal farmers up to 10% of the premium. Besides, under NAIS claims are paid by the Government over and above the premium amount. The benefit of premium subsidy and claim payment is applicable to all insured farmers of all States/UTs including the farmers of Vidarbha region.

This information was given by the Minister of State for Agriculture Sh.Mohanbhai Kundaria in Rajya Sabha today.

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