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On Wednesday, the government has approved a new crop insurance scheme which would replace the existing ones to ensure that farmers pay less premium and get early claims for the full sum insured.
In a Cabinet meeting headed by the Prime Minister Narendra Modi, the decision was taken.
From the kharif season this year, the new crop insurance scheme will be implemented, the existing two schemes National Agricultural Insurance Scheme (NAIS) and Modified NAIS that have some inherent drawbacks will be replaced.
