December 27, 2022 / 05:54 PM IST
Crop insurance coverage scheme is to cowl farmers’ losses attributable to pure calamities, pests and ailments. Pest assaults and erratic climate occasions affecting agricultural produce are widespread challenges throughout India. Thus, crop insurance coverage to supply safety in opposition to the yield and yield-based losses is essential. In India, the insurance coverage is primarily provided within the type of Pradhan Mantri Fasal Bima Yojna, sponsored by the Authorities of India. It was launched in 2016 and might be bought from a choose set of insurers corresponding to Agriculture Insurance coverage Firm, state-run insurers and sure empanelled personal gamers.