Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY)

Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY)
Author :
Publisher : Amazon Publishers, USA
Total Pages :
Release :
ISBN-10 : 9798669309862
ISBN-13 :
Rating : 4/5 (62 Downloads)

Book Synopsis Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY) by : Veerabhadrappa Bellundagi

Download or read book Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY) written by Veerabhadrappa Bellundagi and published by Amazon Publishers, USA. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: India is an agrarian country, where half of the working population is engaged in agriculture and allied activities, for their livelihood, contributing 15.30 per cent to the country’s GDP in 2015-16. Insurance is a tool, inverse of game theory where losses suffered by few are covered from funds accumulated through small contributions made by many who are exposed to similar risk. The question of introduction of crop insurance in India was taken up for examination soon after independence in 1947. A special study to work out modalities of crop insurance was commissioned in 1947-48. World scenarioA wide range of agricultural insurance schemes based on different approaches exist in the world. The USA is currently the only country where revenue and income insurance exists. Revenue insurance is very important in USA, the 73 per cent of the premiums collected are coming from these types of insurance. In Japan there is a whole-farm insurance which covers against all climatic hazards for all crops on the farm. The Canadian system is mainly led by public insurance agencies, from the provincial governments. Indian scenarioIn 1972-73, the Department of Life Insurance Corporation of India introduced a Crop Insurance Scheme on H-4 cotton. Later many crop insurance schemes were implemented in India. At present, Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced. PMFBY is a crop insurance scheme launched by Prime Minister Narendra Modi led NDA Government. The scheme has been launched to cater the financial needs of the farmers in the event of crops destroyed by heavy rain, other natural calamities, pests or diseases. The scheme was implemented with a budget of Rs. 17,600 crore.The Pradhan Mantri Fasal Bima Yojana is new scheme implemented on 1st April, 2016. The scheme is expected to replace the existing schemes like National Agricultural Insurance Scheme (NAIS) and Modified NAIS (MNAIS). The scheme was introduced with a slogan of ‘minimum premium’, ‘maximum insurance’ for farmers. Premium is only one point five per cent for rabi crops, two per cent for kharif crops and five per cent for commercial and horticultural crops.


Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY) Related Books

Crop Insurance schemes in India: Special reference to Pradhan Mantri Fasal Bima Yojana (PMFBY)
Language: en
Pages:
Authors: Veerabhadrappa Bellundagi
Categories: Reference
Type: BOOK - Published: - Publisher: Amazon Publishers, USA

DOWNLOAD EBOOK

India is an agrarian country, where half of the working population is engaged in agriculture and allied activities, for their livelihood, contributing 15.30 per
When implementation goes wrong: Lessons from crop insurance in India
Language: en
Pages: 27
Authors: Nirmal, Rajalakshmi
Categories: Political Science
Type: BOOK - Published: 2021-04-06 - Publisher: Intl Food Policy Res Inst

DOWNLOAD EBOOK

Based on experiments to bring about comprehensive crop insurance coverage over the last 50 years, the Indian government introduced a new crop insurance program,
Agricultural Risk and Insurance in India
Language: en
Pages: 0
Authors: S. S. Raju
Categories: Agricultural insurance
Type: BOOK - Published: 2009 - Publisher:

DOWNLOAD EBOOK

With special reference to Andhra Pradesh, India.
Revitalizing Indian Agriculture and Boosting Farmer Incomes
Language: en
Pages: 386
Authors: Ashok Gulati
Categories: Business & Economics
Type: BOOK - Published: 2021-03-05 - Publisher: Springer Nature

DOWNLOAD EBOOK

This open access book provides an evidence-based roadmap for revitalising Indian agriculture while ensuring that the growth process is efficient, inclusive, and
Pricing of Ecosystem Services in Agriculture: A Basis of Crop Insurance
Language: en
Pages: 159
Authors: Pratap Bhattacharyya
Categories: Technology & Engineering
Type: BOOK - Published: 2022-10-13 - Publisher: Springer Nature

DOWNLOAD EBOOK

The book deals with the pricing of ecosystem services provided by agriculture. All provisioning, regulating, supporting and cultural services are being covered