Need of Krishi Amdani Bima Yojana
- Minimize the Depth: In case the farmers lost their crops either due to being eaten away by the pests or due to the natural calamities outbreak. They would be able to repay their loans without having their lives disrupted. Crop insurance schemes would help them pay off their loans smoothly and in an easier manner.
- Advancement in Technology: The insurance companies willing to provide money to the form would also educate the farmers about the reduction in the losses that are bought. Also provide new technology to advance the agriculture domain.
- Income stability: This scheme would allow the farmers to manage as well as increase their price risks.
- New Agricultural Practices: The farmers would be encouraged to adopt to new agricultural practices in order to increase the production in their crops and minimize the loss against the failures.
Krishi Amdani Bima Yojana
The Krishi Amdani Bima Yojana is also known as the national agricultural insurance scheme, written commonly (NAIS). This scheme was sponsored by the government and it was implemented as a measure to provide crop insurance throughout the country. The scheme was developed keeping in mind the objective of providing financial assistance to the farmers. This came in the country since the Rabi crop act took place in the year 1999 to 2000. This act was developed as a part of risk management wherein in the failure of crops of the farmers they would be provided financial assurance, the crops may fail due to natural calamities or other natural disasters are sometimes being eaten away by the pests. They may get destroyed and disrupt the livelihood of the farmers. The agency behind the implementation of this scheme was Agriculture Insurance Company of India, also referred by AIC.
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