Weather Based Crop Insurance Scheme

The Government has introduced National Crop Insurance Programme (NCIP) from Rabi 2013-14 season with the component schemes of Modified National Agricultural Insurance Scheme (MNAIS) and Weather Based Crop Insurance Scheme (WBCIS). The premium rates under MNAIS and WBCIS are on higher side as compared to earlier scheme of National Agricultural Insurance Scheme. This is because there are several improvements and additional benefits to the farmers under these schemes. Further, premium being charged are on actuarial basis and claim liability is at present on the insurance company. However, to make the premium affordable to the farmers, Government is providing upfront subsidy upto 75% under MNAIS and upto 50% under WBCIS.

This information was given today by the Minister of State for Agriculture, Shri Mohanbhai Kundaria in the Lok Sabha.

GG: SB:CP : crop (lok) 23.12.2014