Modified National Agricultural Insurance Scheme (MNAIS) 1. OBJECTIVES The objectives of the Scheme are as under: - i) To provide insurance coverage and financial support to the farmers in the event of prevented sowing & failure of any of the notified crop as a result of natural calamities, pests & diseases. ii) To encourage the farmers to adopt progressive farming practices, high value in-puts and better technology in Agriculture. iii) To help stabilize farm incomes, particularly in disaster years. The approved scheme has the following features: (i) Actuarial premiums will be paid for insuring the crops, hence the claims liability would be on the insurer; (ii) The unit area of insurance for major crops is village panchayat; (iii) Indemnity amount shall be payable for prevented sowing/planting risk and for post harvest losses due to cyclone; (iv) On account payment up to 25% of likely claims would be released as advance for providing immediate relief to farmers; (v) Uniform seasonality discipline for loanee and non-loanee farmers; (vi) More proficient basis for calculation of threshold yield and minimum indemnity level of 70% instead of 60%; (vii) Modified NAIS with improved features will have two components i.e. compulsory and voluntary. Loanee farmers will be insured under ‘compulsory category’ while non-loanee farmers will be insured under ‘voluntary category’; (viii) Private sector insurers with adequate infrastructure and experience would also be allowed in the implementation of MNAIS.
Posted on: Wed, 25 Sep 2013 14:40:38 +0000
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