The Agriculture Insurance Company of India Ltd (AIC) has urged the Punjab government to implement Modified National Agricultural Insurance Scheme (MNAIS) during the ensuing Rabi season for wheat crop. The scheme was propounded by the centre government and consented by the state government during the last Khariff season.
During the state-level credit seminar for Punjab organised by Nabard, senior official of the AIC requested the Punjab government to implement the scheme in the five districts of the state namely Ferozpur, Faridkot, Sangrur, Muktsar and Mansa as proposed by the state for Wheat crop in ensuing Rabi season. Speaking to Business Standard, Agriculture Insurance Company of India Ltd, regional manager, Rajesh D said, “The modified NAIS has been formulated, incorporating the necessary changes and modifications in National Agriculture Insurance Scheme (NAIS) in consultation with states to remove the deficiencies and make it more comprehensive and farmer-friendly.
With the introduction of the modified scheme, it is expected that an increased number of farmers will be able to manage risk in agriculture production in a better way and will succeed in stabilising farm income particularly at the times of crop failure on account of natural calamities.” On being asked about the salient features, he mentioned that the notified area for the insurance scheme had been reduced to the village panchayat-level for major crops like wheat. Also, the yield of insured crop at village-level would be furnished by the state government by conducting the required number of crop-cutting experiment at village-level. Incidence of hail damage on insured crop will be treated as localised calamity and accordingly individual assessment at farm-level will be done for claim settlement.
Among the other features are also the actuarial premiums that will be paid for insuring the crops, hence the claims liability would be on the insurer, indemnity amount shall be payable for prevented sowing/planting risk and for post-harvest losses, on account payment up to 25 per cent of likely claims would be released as advance for providing immediate relief to farmers, uniform seasonality discipline for loanee and non-loanee farmers, more proficient basis for calculation of threshold yield.
