Agriculture department urges coastal Karnataka farmers to subscribe to crop insurance scheme
GS3Economy · S&T · Environment · Security· MSP, procurement, PDS & food security· Prelims·
Why in news
The Karnataka Agriculture Department is urging paddy growers in coastal districts to enroll in the Pradhan Mantri Fasal Bima Yojana (PMFBY) to mitigate risks from natural calamities.
Background
The Karnataka Raitha Suraksha Pradhan Mantri Fasal Bima Yojana is implemented by Indus Ind General Insurance Company Ltd. Farmers in coastal Karnataka can pay a premium of ₹611.91 per acre to secure coverage against crop failure due to weather-related disasters.
Facts for Prelims
- SchemePradhan Mantri Fasal Bima Yojana (PMFBY): A central government initiative to provide insurance coverage to farmers against crop failure.
- FactPremium for paddy growers in coastal Karnataka: ₹611.91 per acre.
- FactDeadline for premium payment: August 14, 2026.
- PlaceCoastal Karnataka districts: Includes Dakshina Kannada and Udupi.
For Mains
Q. Examine the role of crop insurance schemes in ensuring agricultural resilience against climate-induced risks for small and marginal farmers in India.
Dimensions to cover in your answer
- Information asymmetry: Difficulty for smallholders to access accurate weather-based risk assessments and insurance literacy.
- Actuarial challenges: Difficulty in calibrating premiums for localized micro-climatic events in coastal regions.
- Institutional bottleneck: Delays in claim settlement and verification of 'natural calamity' status by insurance providers.
Keywords: Climate Resilience · Risk Mitigation · Agricultural Insurance · Smallholder Farmers · Crop Failure
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