Yes for Revenue Insurance Scheme for plantation crops by Government

February 8, 2017 | By admin scheme | Filed in: Sarkari Yojana.

Good News for Farmers of India as the Commerce Ministry has finally approved the withstanding “Revenue Insurance Scheme for plantation crops” for protecting the growers from the risks such as yield loss, pest attacks and income decline caused by fall in prices.This scheme was approved under Parliament today. Revenue Insurance scheme may also include tobacco. The scheme, to be called ‘Revenue Insurance Scheme for Plantation Crops‘,  which is being formulated by the Commerce & Industry Ministry and was about to be implemented on regular basis in seven districts, this scheme has now been approved by Central Government.

 Note that – Revenue Insurance Scheme is as improved form of the Price Stabilization Fund (PSF) Scheme, 2003 which was closed on September 30, 2013 after the launch of Revenue Insurance Scheme for Plantation Crops (RISPC) .This scheme is handled now by Commerce and Industry Minister Nirmala Sitharaman.
Implementation of this scheme will be done on a pilot basis for two years covering tea, coffee, rubber, cardamom and tobacco in eight districts in West Bengal, Kerala, Karnataka, Andhra Pradesh, Assam, Sikkim and Tamil Nadu by the commodity boards.  This scheme basically affect growers of plantation crops from the twin risks of yield loss due to adverse weather parameters, pest attacks etc and income loss caused by fall in international /domestic prices.

Also For the Visakhapatnam Chennai Industrial Corridor (VCIC), the land under possession is 1,887 acres and the land under acquisition/alienation is about 24,056 crore as said by government authority .

 


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