Crop Insurance in India

Abstract

   

Though India is self-sufficient in production of food grains through advancement in modern technologies but still the income of the farmers is not fixed and is unstable, due to weather conditions and fluctuations in price and demand. Farmers face a lot of risk due to changing weather conditions. The poor farmers who have extremely limited resources are facing adverse situations and this problem can be solved only through a insurance mechanism. Therefore, crop insurance is a major solution provider in addressing the issue regarding crop losses and price related problems. This paper examines the benefits of crop insurance and various types of schemes formulated by government for redressal of problems of farmers.