What is crop insurance?

Crop insurance scheme is to cover farmers' losses due to natural calamities, pests and diseases. Pest attacks and erratic weather events affecting agricultural produce are common challenges across India. Thus, crop insurance to provide protection against the yield and yield-based losses is crucial. In India, the insurance is primarily offered in the form of Pradhan Mantri Fasal Bima Yojna, sponsored by the Government of India. It was launched in 2016 and can be purchased from a select set of insurers such as Agriculture Insurance Company, state-run insurers and certain empanelled private players.