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TNPSC Current Affairs 2017 February, 10

Union Government approves revenue insurance scheme for plantation crops.

 

The commerce 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 prices.

 

About RISPC

 

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.

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