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Transforming Weather Index-Based Crop Insurance in India: Protecting Small Farmers from Distress Status and a Way Forward

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Title Transforming Weather Index-Based Crop Insurance in India: Protecting Small Farmers from Distress Status and a Way Forward
 
Creator Raju, KV
 
Contributor Naik, Gopal
Ramaseshan, R.
Pandey, Tushar
Joshi, Partha
Anantha, K.H.
Rao, Kesava
Mosesshyam, Davala
KumaraCharyulu, Deevi
 
Subject weather index
indexbased weather insurance
 
Description In India, agriculture contributes 14% of the GDP and employs 54% of the workforce (NCAER 2013). It accounts for 8.56% of the
country’s exports. Despite agriculture’s steady decline in share in the GDP, it remains the largest economic sector and plays a
significant role in the country’s overall socioeconomic development. However, agriculture is fundamentally a risky economic activity,
particularly for small and marginal farm households because the climate risks, including aberrant rainfall, and natural calamities and
input risks have a significant impact on yields. Low investment potential combined with poor coping ability render farming households
vulnerable to debt and poverty traps in the face of adverse weather shocks. It is estimated that about 60% of the variation in yield can
be attributed to various weatherrelated
shocks. Since 70% of crop production in India is subject to the vagaries of the monsoon, crop
insurance has been in existence through many public sector insurance companies for decades. Different agricultural insurance products
have been tried out on a limited, adhoc
and scattered manner...
 
Date 2016-11-03
2017-02-09T00:18:17Z
2017-02-09T00:18:17Z
 
Type Report
 
Identifier http://oar.icrisat.org/id/eprint/9761
https://mel.cgiar.org/reporting/download/hash/anaZRspH
KV Raju, Gopal Naik, R. Ramaseshan, Tushar Pandey, Partha Joshi, K. H. Anantha, Kesava Rao, Davala Mosesshyam, Deevi KumaraCharyulu. (3/11/2016). Transforming Weather Index-Based Crop Insurance in India: Protecting Small Farmers from Distress Status and a Way Forward. Hyderabad, India: International Crops Research Institute for the Semi-Arid Tropics (ICRISAT).
https://hdl.handle.net/20.500.11766/5624
Open access
 
Language en
 
Rights CC-BY-NC-4.0
 
Format PDF
 
Publisher International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)
 
Source IDC6 (2016)