Rebooting Economy 53: Why crop insurance is losing traction in India

Rebooting Economy 53: Why crop insurance is losing traction in India

Several studies throw up structural, logistical and financial challenges to the growth of crop insurance in India, jeopardised by apparent profiteering by insurance companies

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The biggest challenge for farmers continues to remain the unusual way crop insurance works in IndiaThe biggest challenge for farmers continues to remain the unusual way crop insurance works in India
Prasanna Mohanty
  • Dec 23, 2020,
  • Updated Dec 23, 2020 11:17 PM IST

Crop insurance is one of the key elements to stabilise farmers by compensating for crop losses arising out of drought, flood and other causes. In 2016, India overhauled crop insurance to expand its coverage of farmers and farm areas. Initially, it did expand the coverage but since then it has seen a downward slide, one of the key reasons for this being visible profiteering by insurance companies.

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Here is a broad look at the crop insurance scenario.  

Crop insurance is one of the key elements to stabilise farmers by compensating for crop losses arising out of drought, flood and other causes. In 2016, India overhauled crop insurance to expand its coverage of farmers and farm areas. Initially, it did expand the coverage but since then it has seen a downward slide, one of the key reasons for this being visible profiteering by insurance companies.

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Here is a broad look at the crop insurance scenario.  

Read more!
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