Indian govt holds discussion on Farm Income Insurance Scheme

North Gazette News/New Delhi
Indian government on Tuesday held discussions of new Farm Income Insurance Scheme on finalizing formalities on two components of Price Based Insurance and the Yield Based Insurance for crops.

Talking to mediapersons, Indian Agriculture minister Radha Mohan Singh said that he had discussion with Agriculture ministers of all the states of the country on Draft Farm Income Insurance Scheme at Krishi Bhawan here today.

Singh said that the Draft Farm Income Insurance Scheme would have two components, i.e. the price based insurance and the yield based insurance.

“A committee consisting of senior agriculture officials and representatives from state governments would be formed to look into the suggestions from the state governments’ during the meeting today,” Singh said, adding that he also had discussion with farmer organisation on this issue and the ongoing insurance schemes would continue for now.

“During the discussion, the representatives from the states suggested to implement income insurance scheme in consonance with their local needs which include climatic, geographical conditions and crop pattern,” Indian Agriculture minister said.

Singh said that there has been a consensus from representatives from various states on this aspect. “As a pilot project, the schemes suggested by states would be implemented with the approval of Central Government,” he said.

Ashish Bahuguna, Secretary Department of Agriculture and Cooperation, Ministry of Agriculture was also present on this occasion.