The agriculture sector outlay, which is ~5 per cent of the total budget of the Union government, increased markedly in the last budget, primarily due to the higher allocation towards the Kisan Samman Nidhi (income support scheme for farmers). It is important to note that ~94 per cent of the total allocation was towards the Department of Agriculture, Cooperation and Farmers' Welfare, while the remaining was for the Department of Agricultural Research and Education.
The Widespread wildfire season of 2020 had winegrape growers and vintners up and down the West Coast scrambling to run micro-fermentations and test grapes for guaiacol and 4-methylguaiacol. Contracts, many of which contained no specific provisions for smoke exposure, were called into question, and animosity between some buyers and sellers ran high.
AgroInsurance and VanderSat partnered up to conduct a global drought insurance survey to develop a better understanding of the current situation and the upcoming trends in the drought insurance market. We collected around 89 fully completed surveys, from all over the world, covering all major actors in the insurance value chain.
The global trend of new confirmed COVID-19 cases has not changed significantly for the last 6 months, continuously increasing the number of daily cases worldwide. Most countries still experience local outbreaks with limitations and local lockdowns imposed. AgroInsurance International takes the responsibility for the safety and health of our partners and conference participants. Thus, AgroInsurance team took the leadership and re-negotiated the Conference dates for October 4-6, 2021.
Jharkhand is set to replace the Prime Minister’s insurance scheme for farmers with its own crop relief scheme. To be launched on December 29, the scheme will take three months to come into effect. It is a compensation scheme aimed at providing security cover to Jharkhand farmers in case of crop damage due to natural calamity.
PMFBY was launched in 2016 and replaces all the prevailing yield insurance schemes in India. National Tiger Conservation Authority (NTCA) has written to all the field directors of tiger reserves to consider providing add-on coverage for crop depredation to farmers in areas near the reserves where the risk is substantial and identifiable.
In February 2020, the federal government of India imposed changes to the existing crop insurance program, PMFBY (Pradhan Mantri Fasal Bima Yojna), intending to make it more farmer-friendly and improve its appeal to insurers. Since the announcement, the state of Gujarat has left PMFBY, adding to earlier defections by the states Andhra Pradesh, Bihar, West Bengal, and Telangana.
The Centre’s decision to make voluntary the enrolment of farmers in the Pradhan Mantri Fasal Bima Yojana (PMFBY- Prime Minister’s Crop Insurance Scheme) does not seem to have reduced the farmers’ interest in it. Against 2.74 lakh farmers, totally covered under the scheme during the 2019 kharif season (which is equivalent to kuruvai season in Tamil Nadu), over 4 lakh were enrolled this time.
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