by aditya abhishek
The National Agricultural Insurance Scheme (NAIS) also known as Rashtriya Krishi Bima Yojan in India was launched on October 2, 1999.
Claims worth around Rs. 50,610 crore were paid out, benefiting approximately 7.79 million farmers, against a premium of Rs. 14,009 crore.
It aimed to safeguard farmers from the uncertainties and risks associated with agriculture and encourage them to adopt modern agricultural practices.
The scheme was introduced to provide insurance coverage & financial support to farmers in the event of crop failure due to natural calamities, pests, or diseases.
The scheme was available to all farmers, whether they had taken loans or not, regardless of the size of their land so that every section of the farmer society could get benefits.
Over the last thirty-three crop seasons (from Rabi 1999-2000 to Rabi 2015-16), approximately 26.91 million farmers were covered, protecting an area of about 388.7 million hectares.
The National Agricultural Insurance Scheme was put into action by 25 States and 2 Union Territories, with insurance amounting to Rs. 4,61,238 crore.
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