Source: TH
Context: After the Parliamentary Standing Committee (PSC) pointed out ‘zero insurance coverage’ of livestock in 2022-23, the central government is considering a comprehensive livestock insurance scheme modelling the Prime Minister’s Fasal Bima Yojana.
- The proposed Comprehensive livestock insurance will replace the present Livestock Insurance Scheme (LIS)
Status:
Less than 1% of the country’s cattle population is currently insured, with the average yearly premium at 4.5% of the insured amount.
The proposal:
- Waive off premiums for cattle rearers from Scheduled Caste-Scheduled Tribe communities
- Reduce premiums so that more farmers can enrol in the scheme
- Ensure maximum coverage of livestock to protect them from pandemics such as lumpy skin disease.
About Livestock Insurance Scheme (LIS)
| Aspect the LIS | Information |
| Year of Launch | 2008-09 |
| Sponsorship | Centrally sponsored |
| Implementing Agency | Department of Animal Husbandry, Dairying & Fisheries |
| Coverage | Implemented in 100 selected districts |
| Beneficiaries | Crossbred and high-yielding cattle and buffaloes (having a yield of 1500 litres or more per lactation) |
| Insurance Coverage | Maximum of current market price |
| Cost of Subsidy | 100% borne by Central Government |
| Benefit | Maximum of 2 animals per beneficiary for a maximum of three years |
| Implementation | All states have implemented the scheme (except Goa) through the State Livestock Development Boards of their respective states. |
