Union Government approves revenue insurance scheme
for plantation crops.
ministry of India has launched pilot revenue Insurance scheme for Plantation
Crops (RISPC). The aim of the scheme is for protecting the growers from the
risks such as yield loss, pest attacks and incoe decline caused by fall in
The Revenue Insurance scheme for Plantation Crops (RISPC)
is an improved form of the Prize Stabilization Fund scheme which was
implemented in 2003 and closed on Sept 2013.
RISPC was approved on September 16 2016, and will be
implemented on pilot basis for 2 years covering cardamom, tobacco, tea, coffee,
and rubber in West.Bengal, Kerala, Karnataka, Andhra Pradesh, Sikkim, Tamil
Nadu, and Assam. Based on the performance of the pilot project, the scheme will
be considered for extension to other states.