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“For a farmer starting out, crop insurance is an absolute necessity. Crop losses two out of my first three years would have been a financial disaster without crop insurance. It’s the best investment you can make.”
– Rob Laroque, Carter Hill Orchard, Concord, NH
Agriculture remains the primary sector of the Indian economy. While it accounts for merely 16 percent of the country’s GDP, approximately 43.9 percent of the population depends on it for their livelihood. In recent years, indebtedness, crop failures, non-remunerative prices and poor returns have led to agrarian distress in many parts of the country. The government has come up with various mechanisms to address these issues: insurance, direct transfers and loan waivers, among them. However, these mechanisms are ad hoc, poorly implemented and hobbled by political dissension.
Pradhan Mantri Fasal Bima Yojana
The new Crop Insurance Scheme is in line with One Nation – One Scheme theme. It incorporates the best features of all previous schemes and at the same time, all previous shortcomings/weaknesses have been removed.

National Crop Insurance Programme (NCIP) / Rashtriya Fasal Bima Karyakram (RFBK)
NCIP is a Central Sector Scheme formulated by merging National Agricultural Insurance Scheme (NAIS), Pilot Weather Based Crop Insurance Scheme (WBCIS), Pilot Modified National Agricultural Insurance Scheme (MNAIS) and and Pilot Coconut Palm Insurance Scheme (CPIS). The scheme came into force from Rabi 2013-14 and covers all districts.
Loanee farmers will be covered on compulsory basis under the component- scheme of NCIP notified by the concerned state, while non-loanee farmers will choose either MNAIS or WBCIS component.
Private sector Insurers with adequate infrastructure and experience will be permitted to implement NCIP besides Agriculture Insurance company of India (AlC).
At UMR, we use state of the art analysis to help our customers know and understand the value of each alternative. We supply our clients with programs that involve grain marketing plans, futures and options strategies and other ways of integrating crop insurance with an overall risk management plan. No one else in the industry has the tools that make our team stand apart from the competition.