by aditya abhishek
It is a type of insurance policy that provides financial protection to farmers in case of natural calamities, such as drought, flood, hailstorms, pests, & diseases.
Farmers get compensation for the loss of yield or damage to crops, it helps farmers in recovering from the losses & continue their farming activities.
It enables farmers to access credit facilities easily, as lenders are more willing to lend to insured farmers. Moreover, due to uncertainity in farming, it provides security.
Farmers can avail crop insurance from authorized bodies such as the government or banks. If you are farmer willing to get crop insurance then try these schemes.
Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme launched by the Government of India to provide compensation for the loss of crop yield due to natural calamities.
Weather-Based Crop Insurance Scheme uses uses weather parameters, such as rainfall, temperature, etc. to provide compensation.
National Crop Insurance Programme in whaich state government is also involved to provide insurance to the farmers.
Coconut Palm Insurance Scheme provides insurance coverage to coconut farmers against losses due to natural calamities such as cyclones, floods, etc.
Thanks for reading!