India approves remote sensing based crop insurance scheme

India approves remote sensing based crop insurance scheme

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India: Earlier this week, we told you how the Indian government was mulling a new crop damage insurance scheme that would rely on smartphones, remote-sensing data and drones to assess crop damage and settle claims. Now, the Center has given a green signal for the scheme to be implemented from the next fiscal year. The plan has been christened the Pradhan Mantri Fasal Bima Yojana (PMFBY). Earlier, insurance companies used to rely on yield data, which was often delayed. The new scheme would provide compensation for even loss of seed plants and post-harvest damage, using location-based mobile apps and satellite imagery to assess the damage in the shortest possible time.

Source: Reuters