Shri Singh said that the Draft Farm Income Insurance Scheme will have two components, that is, the price based insurance and the yield based insurance. A committee consisting of senior agriculture officials and representatives from state governments will be formed to look into the suggestions from the State Governments during the meeting today. In the morning, he also had discussion with farmer organisation on this issue. He further said that ongoing insurance schemes will continue.
During the discussion, the representatives from the states suggested to implement income insurance scheme in consonance with their local needs which include climatic, geographical conditions and crop pattern. Shri Singh said that there has been a consensus from representatives from various States on this aspect.
Shri Singh informed that as a pilot project, the schemes suggested by States will be implemented with the approval of Central Government.
Shri Ashish Bahuguna, Secretary Department of Agriculture and Cooperation, Ministry of Agriculture was also present on this occasion.