Though India is an agrarian economy, the most basic unit of this sector – the farmers – happen to be the most vulnerable to climatic and economic inconsistencies. In order to bring instability to their lives, and to offer them a sense of security, the government of India offers the Unified Package Insurance scheme or the UPIS.

This scheme largely offers financial protection to citizens who are associated with the Agricultural sector. By doing this, the government of India offers food security, crop diversification, and aids growth and also introduces competitiveness in the markets; it achieves all of this alongside the most basic objective, protecting farmers from financial upheavals.

This scheme offers protection to farmers for a span of a year and is renewable from year to year.

Features of the UPIS

The main features of the scheme are mentioned herewith:

In conclusion

With this scheme in play, the government of India extends a helping hand to farmers who forever live their lives in worry; wondering if tomorrow will bear enough fruit to have food on the table.

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