Highlights of the scheme
- Premium :
Kharif crops : 2%
Rabi crops : 1.5%
Horti cultural crops:5%
- There is no upper limit on Government subsidy.
- Extensive use of technology to assess losses.
- There is no capping of premium.
Farmers to be covered
- All farmers growing notified crops in a notified area during the season are eligible.
- Compulsory coverage :
Farmers in the notified area who possess a Crop Loan account/KCC account (called as Loanee Farmers) to whom credit limit is sanctioned/renewed for the notified crop during the crop season. And such other farmers whom the Government may decide to include from time to time.
- Voluntary coverage :
Voluntary coverage may be obtained by all farmers not covered above, including Crop KCC/Crop Loan Account holders whose credit limit is not renewed.
Risks covered under the scheme
- Yield Losses (standing crops, on notified area basis). Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as Natural Fire and Lightning, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado. Risks due to Flood, Inundation and Landslide, Drought, Dry spells, Pests/ Diseases also will be covered.
- Post-harvest losses are also covered. ( up to maximum of 14 days after harvest and shall be kept in cut and spread condition)
- Localised risks like hailstorm, landslide, inundation in the notified area are also covered.
Price risks are not covered in the scheme.
Share:
