Livestock Insurance Scheme:
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)
- 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.
Livestock Insurance Scheme (LIS):
- Launched In Year 2008-09
- It is a Centrally sponsored scheme
- Implementing Agency : Department of Animal Husbandry, Dairying & Fisheries