PRIME MINISTER'S CROP INSURANCE PLAN

PRIME MINISTER'S CROP INSURANCE PLAN
India is considered to be the backbone of our country, with the employment of 52 percent of the total population of the country running through agriculture or agro-based industries. Our farming is mostly rain-fed and farmers have to bear accidental loss in agriculture due to unusual weather events such as flood, drought, cyclonic storms and agricultural production is uncertain. The Prime Minister's crop insurance scheme has been started by the government to provide protection against such losses.Project ObjectivesIn a predicted non-predictable way, financial assistance is provided to the farmers with the loss or loss of crop.Encourage farmers to adopt innovative and modern farming practices.Credit flow can be ensured in agriculture and farmers can be protected with production risks.Features of the schemeFarmers will have to pay less premium and the burden of the remaining premium, which is 90% apart, will be filled by the government.A premium for one season of food crops, pulses and oilseeds isto be kept.At least the premium rate for farmers (rate) - One Crop One Premium (Kharif: Xx, Ravi: 1.5%, Annual Horticultural and Commercial crops: 5%)Separate premium rates for districts and crops will now be exempt.Since there is no limit on the sum insured, there will be no reduction in the claim amount.Due to storms and monsoon rains, the risks associated with sowing are included in the plantation.Water stressing is included in the list of local risks.The emphasis is on using broadband and satellite technology for a quick assessment of the exact estimates and claims.The unit of insurance in the planThe implementation of the scheme will be based on "Area-Approach". For major crops, the unit of insurance will be village panchayat and for other crops, the unit of insurance will be decided by the state government. And this would be a higher level unit than village / village
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