In India, crops worth millions of rupees are lost every year because of weather-related problems like floods and droughts. The central government runs a weather-based crop insurance scheme in some states to save farmers from vagaries of nature. In a recent study, the Federation of Indian Chamber of Commerce and Industry (Ficci) has found out that the scheme has some lacunas and could be suitably modified to bring more farmers under its ambit and make it more dynamic. The industry association has suggested that the crop insurance scheme should be extended to all the states in the country, rather that ...

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