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Livestock Insurance Scheme

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