What do you mean by crop insurance? Bescribe its advantage and limitations in application?
Answers
HERE IS YOUR ANSWER. . .
.
Need of Crop Insurance:
Every year, in one part of India or the other food crops are affected by natural calamities, “Crop yield instability is the normal condition and agriculture continues still to be which the farmer’s fortunes are exposed, is practically the same as before. In fact, good years and bad years, wet weather and drought or floods and frost, low yields and bumper crops are to be expected in mixed succession.
Advantages of Crop Insurance:
The advantages of crop insurance are recognised on all hands:
(i) It provides protection to farmers against losses caused by crop failure and thereby ensures stability in farm income,
ii) It also strengthens the position of co-operatives and other institutions that finance, agriculture to the extent it enables the farmer members to repay their loans in years of crop failure,
(iii) By protecting the economic interest of the farmers against possible risk or loss, it accelerates adoption of new agricultural practices,
(iv) It minimizes the problem of rural indebtedness, which is traceable to the frequent failure of crops,
(v) It also reduces, to some extent, government expenditure incurred on relief measures extended to meet the havoc caused by natural calamities,
.
.
HOPE IT HELPS YOU! ! ! !