Revenue Insurance Scheme for Plantation Crops
It is a scheme for protecting growers of tea, coffee, rubber, cardamom and tobacco from the twin risks of weather and price arising from yield loss due to adverse weather parameters, pest attacks etc. and from income loss caused by fall in international/domestic prices through crop insurance mechanisms.
Coverage of the scheme
- Scheme will cover income loss arising out of yield loss /price fluctuations or both. Yield loss can be due to non-preventable risks viz., drought, dry spells, flood, inundation, pest and diseases, landslides, natural fire, lightning, storm, hailstorm, cyclone etc.
- Price fluctuation can be due to fall in international/domestic prices below the average price of the last 5 years excluding the current year.
- Losses arising out of war and nuclear risks, malicious damage and other preventable risks are excluded.