Launched in February 2017, the Revenue Insurance Scheme for Plantation Crops (RISPC) is designed to safeguard plantation crop growers from financial risks such as pest attacks, yield losses, and income decline due to price fluctuations. This innovative insurance scheme aims to provide a safety net for farmers engaged in plantation crops, helping to stabilize their income and encourage sustainable farming practices.
RISPC was introduced on a pilot basis for two years and focuses on key plantation crops including tea, coffee, rubber, cardamom, and tobacco. The pilot implementation covers eight districts spread across states like West Bengal, Kerala, Karnataka, Andhra Pradesh, Assam, Sikkim, and Tamil Nadu, overseen by the respective commodity boards.
By addressing both production and market risks, RISPC plays an important role in enhancing the financial security of plantation growers and ensuring the long-term viability of these vital crops.
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