1. Do it yourself.
2. Do it yourself.
3. Some details of the history of crop insurance in India are given below Crop insurance is undertaken by agricultural producers, including farmers and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities.
In a country like India, where crop production has been subjected to vagaries of weather a large-scale damages due to attack of pests and diseases, crop insurance assumes a vital role in the stable growth of the sector.
An All-Risk Comprehensive Crop Insurance Scheme (CCIS) for major crops was introduced in 1985, coinciding with the introduction of the Seventh Five Year Plan and subsequently replaced by National Agricultural Insurance Scheme (NAIS) w.e.f. 1999-2000. These Schemes have been preceded by years of preparation, studies planning, experiments and trials on a pilot basis.
Agriculture Insurance Company of India Limited (AIC) has been formed by the Government of India consequent to the announcement of Budget of 2003 to serve the needs of farmers better. To move towards a sustainable actuarial regime, it was proposed to set up a new Corporation for Agriculture Insurance.
AIC has taken over the implementation of National Agricultural Insurance Scheme (NAIS), which until 2003 was implemented by General Insurance Corporation of India. In future, AIC would also be transacting other insurance businesses directly or indirectly concerning agriculture and its allied activities.
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