Agriculture Insurance: CAG will Audit Crop Insurance Schemes.

To examine the efficiency of crop insurance in providing succour to farmers who suffer damage to their crops, the Comptroller and Auditor General (CAG) has decided to conduct a performance audit of agricultural crop insurance schemes.

In the States of Andhra Pradesh, Assam, Gujarat, Haryana, Himachal Pradesh, Orissa, Maharashtra, Rajasthan and Telangana this audit is proposed to be conducted with the help of the Principal Accountant General/Accountant General (Audit) Offices in the respective States.

Examination of records of the Department of Agriculture Cooperation and Farmers Welfare, Agriculture Insurance Company of India, State Agriculture Department and other related departments are included in the performance audit.

According to the Reserve Bank of India, Examination of the records of various banks, insurance companies and co-operative institutions is necessary to ascertain whether crop insurance schemes were being implemented effectively and delivering benefits to the targeted beneficiaries, as crop insurance schemes are being implemented with the these entities.

Source:http://www.thehindubusinessline.com/