The Approval of Revenue Insurance Scheme for Plantation Crops by the Commerce Ministry
India – the land in which agricultural activities are carried majorly when compared with all other nations. According the survey reports the more than 50% of the citizens of the nation depends upon the agricultural productions. In recently times, the agricultural sector facing some hard times due to the natural calamities like unexpected rainfalls and irregular monsoons, in addition to those irrigation system of the several states are below the par level owing to those reasons farmers across the nation experiencing some heavy blow on their agricultural productivity. The current PM has announced his dream of making India a better nation by around the year 2022 when the nation is going to celebrate its 75th year of independence. On accounting that several welfare scheme including this revenue insurance scheme for plantation crops has been introduced.
Revenue Insurance Scheme for Plantation Crops (RISPC)
As the entire nation is mainly focusing on crops, the ministry of commerce has introduced this RISPC scheme in order to protect and to improve the incomes or revenues which are availed because of the plantation process. With the implementation of this Revenue Insurance Scheme several cultivations like Tea, Coffee, Rubber, several Spices, and also the Tobacco.
The Commerce and Industry Minister Nirmala Sitharaman has recently addressed in the house after the presentation of the nation’s union budget section. She quoted that the commerce industry is about to experience new growth after the implementation this revenue insurance scheme for plantation crops.
Key points about the RISPC scheme
- The implementation of the RISPC offers better cultivation and improves the revenues attained by certain rare plantations which are carried in selective regions of the nation.
- As the details received by the commerce and industry ministry department, the RISPC is the improved version of the scheme The Price Stabilization Fund (PSF) which was shut down by the government by the year 2013.
- The RISPC will also include new frameworks and rules to be followed by the state and central governments on accumulating the cultivation lands for the infrastructural development and other works.
- In addition to those above pointed features, the upcoming scheme RISPC will get rid of the several risk factors which are threading the cultivation process in the certain spices in selective states of the nation.
- Under this scheme, the states like Assam, Kerala, Tamil Nadu and few more will be more beneficial as they are placing a vital role in the production of Tea, Coffee, Rubber and other certain variety of spices.
While addressing about the RISPC in the house the honorable minister Nirmala Sitharaman pointed that this revenue insurance scheme will be implemented in selected 5 states of the nation in the initial stage. After sorting out the difficulties and experiencing the scheme’s output the scheme will be implemented all over the nation in step by step process.
Apart from the offering several benefits to the farmers who are truly depended upon their plantations, the scheme also includes some notable features and benefits to the industrial sectors. The RISPC includes several important guidelines to be followed for the improvement of the industrial sectors in the nation particularly in the states in which the plantation is carried out as in major resources.