India is an agricultural land. It is rightly called the “ Land of Farmers ”.
But India is also prone to unseasonal dust and thunderstorm followed by rains in several
places in North and South India. It also has many low lying areas that are vulnerable to
climatic conditions and calamities.
With disturbed weather events becoming recurrent, we have seen extensive damage to
crops. The terrible loss of their only source of earning due to the unwanted, unpredictable
climatic conditions and calamities leads to a group of disheartened poverty struck state of
the farmers in the past few years out of which a few committed suicide and a few gave up all
hopes of living a good life with basic amenities.
Protection of farmers against these risks has always been a primary concern in current
Prime Minister Mr. Narendra Modi government’s agricultural policy. India’s Agricultural
Insurance schemes have been upgraded and undergone several changes in their
approaches. Mitigating risk in the agricultural sector has a direct implication for productivity
of agriculture and welfare of the farmer community. It also intersects with some of the key
sustainable development goals, such as ending poverty, achieving food security and curbing
Many farmer friendly schemes, propositions and regulations are formulated in order to give
the much deserved fruits of all the efforts put by our unsung field heroes. One such scheme
namely The Pradhan Mantri Fasal Bima Yojana(PMFBY)the Prime Minister’s Crop Insurance
Scheme was launched in favor of the farmers.
Many experts and organizations working in this area are now recommending the use of
information and communication (ICT) tools to help farmers regain faith in crop insurance
schemes and make them more efficient and transparent.
The recent unprecedented Floods in Kerela have led to a major damage to crops. The
plantations destroyed were worth thousands of crores and compensation of which if insured
will only help gain results of all the efforts put in as compared to the losses incurred. Major
plantations and estates of Rubber, coffee, tea, cardamom had been destructed.
The AIC, which had a sum insured of about Rs 600 million, would pay only 25 per cent. If
damage is during the sowing period, insurance companies are liable to pay only 25 per cent
of the sum insured under the Pradhan Mantri Fasal Bima Yojana (PMFBY).