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Agri Finance & Insurance News
Goverment will introduce a National Crop Insurance Scheme.
Observing the agriculture sector was passing through a crisis due to poor rains government would soon introduce a national crop insurance scheme. Jayant Sinha mentioned that there is need to invest more as part of a long term plan to improve the health of the agriculture sector.
He said that there is a need to improve the fertiliser subsidy system, invest more in irrigation facilities and use technology like soil health cards to improve the agriculture sector.
Earlier short term measures like loan restructuring used to kick in when 50 per cent of crop failure was reported due to drought or floods, now the benchmark for crop failure to initiate such measures has been fixed at 33 per cent, to help more number of farmers, he added.