Agricultural Insurance in India

The population is ever increasing and the Agricultural Sector has to be strengthened in all respects to be able to feed all. Projections indicate that our world will have over 9.9 billion people by 2050, compared to just over 7.7 billion today. To feed all the people, particularly when over nine million people already die annually due to starvation and hundreds of millions more suffer from chronic or periodic food insecurity, is the crisis that should be addressed instantly on war footing. Agriculture, particularly, the small and mid-sized farmers who produce a significant amount of food for the world, continues to be extremely vulnerable to the effects of natural disasters. In India, agricultural risks are caused by a variety of factors that include frequent natural disasters, uncertainties in yields and prices, weak rural infrastructure, unorganised markets and lack of access to institutional financial services. This book tries to look into implementation of various Crop Insurance Schemes in India since independence in general and Pradhan Mantri Fasal Bima Yojana in particular as risk management tool.