Phase IFoundation
Background
Overview
Understanding risk management in agriculture and allied sectors is crucial. Aquaculture insurance addresses vulnerabilities of fish farmers, contributing to their economic stability and the sector's growth. It reflects the government's approach to farmer welfare and resilience building.
Aquaculture insurance is a risk management tool designed to protect fish farmers from financial losses due to unforeseen events like disease outbreaks, natural calamities, or market fluctuations. In India, schemes like PM-MKSSY provide incentives to farmers for adopting such insurance, thereby enhancing the resilience and sustainability of the aquaculture sector.