Comprehensive crop Insurance scheme had been introduced by the Govt. of India since Kharif 1985 in collaboration with the General Insurance Corporation of India (GIC). In place of the above scheme a new Rashtriya Krishi Bima Yojana has been introduced which is implemented by National Agriculture Insurance Co. of India Ltd. with the cooperation of Govt. of India & state Govt. since Rabi 1999 season. The details of the scheme are as under
Objectives Of the Scheme
- To provide insurance coverage and financial support to the farmers in the event of failure of crops as a result of natural calamities, pests and diseases
- To encourage farmers to adopt progressive farming practices high value in-puts and higher technology in Agriculture.
- To help stabilize farm incomes, particularly in disaster years.
- To support and stimulate production of food crops & oilseeds.