Agroinsurance

NEWS

India - 13% Karnataka farmers avail benefits of crop insurance

23.06.2016 395 views

Farmer suicides along with the state's poor record in crop insurance schemes is a huge concern for the Karnataka Agriculture Prices Commission (KAPC).

The percentage of farmers utilizing the Prime Minister's Fasal Bhima Yojana (crop insurance scheme) in the state is just 13, against the national average of 20%. The Institute of Social and Economic Change (ISEC) has been tasked with investigating the reasons for farmers not availing the benefits of crop insurance.

"The study will find out what makes crop insurance schemes more farmer friendly. Poor response to National Agriculture Insurance and Modified National Agriculture Insurance schemes saw them being scrapped," said Pramod Kumar from the Agricultural Development and Rural Transformation Centre.

"Farmers are plagued by risk at every stage owing to excessive dependence on nature. A farmer can incur losses despite a good harvest if he fails to get the right price for his produce," said Meenakshi Rajeev from the Centre for Economic Study and Policy. ISEC held the first round of meetings with farmers, insurance companies and banks.

Source - http://timesofindia.indiatimes.com

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