New crop insurance scheme is marked by debilities

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Crop Insurance

A new crop insurance scheme that was unveiled with a lot of fanfare would impose only a measly burden of Rs one thousand crore on central account. The corpus of the scheme is placed at Rs 8,000 crore, to be shared equally between the states and the centre. While the states will have to shell out Rs 4,000 crores as their share, the centre will have to allocate only Rs 1,000 crore as it’s already spending Rs 3,000 crore on this account.

For this reason, the name of the scheme – Prime Minister Fasal Bima Yojna – could run into political obstacles. Since most of the states are governed by non-BJP parties, they are sure to question the legitimacy of the scheme’s nomenclature. Even if they don’t, it would have been better to avoid this sort of nomenclature which serves no purpose other than inflating one’s vanity.

Further, even though the corpus of Rs 8,000 crore may look like a drop in the bucket agrainst the requirement, it’s not clear what home work the administration has done to remove the debilities that marked the implementation of the earlier crop insurance scheme. A lot of noble wishes have been expressed about the application of this tech and that tech, but wishes always remain wishes in India, they never become horses to gallop to the goal.

M K Shukla

(This column does not necessarily reflect the opinion of Indianmandarins and its owners)

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