0 votes
82 views
in Economic Biology by (15 points)
Discuss in your classroom about the importance of crops insurance to former

Please log in or register to answer this question.

1 Answer

0 votes
by (18.8k points)

(i) Stability in Income: It protects the farmers against losses caused by crop failure. It acts like a tool that allows farmers to manage their yield and price risks.

(ii) Minimal Debts: Farmers are able to repay their loans even during the time of crop failure with the support of the right insurance partner.

(iii) Technological Advancement: Insurance companies work along with Agri platforms who use IOT to enhance agriculture practices and reduce farmers losses. This helps farmers to understand latest technological advancement and improve their crop production.

(iv) Yield Protection: Crop Insurance protects farmers against  production loss for crops. It also offers preventive planting and replant security.

(v) Provides Awareness: Insurance companies provide awareness campaigns to help farmers understand the effect of natural calamities and also protect their farms.

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...