Aquaculture Insurance in India
Agriculture
- PYQs5
- Articles1
Background
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.
Facts & tables
- Purpose
- Mitigates financial risks for aquaculture farmers from yield losses.
- Coverage Types
- Basic Insurance (non-preventable perils) and Comprehensive Insurance (includes diseases).
- Incentive
- One-time incentive provided on premium paid (e.g., 40% of premium, with ceilings up to ₹25,000/hectare).
- Beneficiaries
- SC/ST and women beneficiaries receive an additional 10% incentive.
| Type | Reference |
|---|---|
| Conceptual area | Welfare Schemes & Social Policies |
| Conceptual area | Agricultural Policies & Supply Chains |
| Body | Role |
|---|---|
| Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying | Implements |
Prelims angle
Prelims angle: Multi-statement analysis
Prelims angle: Factual recall
- Risk management tool for fish farmers.
- PM-MKSSY provides one-time premium incentive.
- Covers yield losses from natural calamities, pollution, diseases.
- Two types: Basic and Comprehensive Insurance.
- Additional incentives for SC/ST and women beneficiaries.
| Year | Framing tags |
|---|---|
| 2026 | Factual recall, Terminology-based question |
| 2025 | Statement-based questions, Purpose or function of a policy tool |
| 2020 | Multi-statement analysis, Factual recall |
| 2017 | Statement-based questions, Purpose or function of a policy tool |
| 2016 | Multi-statement analysis, Factual recall |
Timeline
-
Welfare Schemes & Social Policies
Conceptual area
-
Agricultural Policies & Supply Chains
Conceptual area
-
Prelims 2016
Multi-statement analysis, Factual recall
-
Prelims 2017
Statement-based questions, Purpose or function of a policy tool
-
Prelims 2020
Multi-statement analysis, Factual recall
-
Prelims 2025
Statement-based questions, Purpose or function of a policy tool
-
Prelims 2026
Factual recall, Terminology-based question
-
Welfare of shrimp farmer
Aquaculture insurance, supported by schemes like PM-MKSSY, offers financial protection to fish farmers against various risks, including diseases and natural disasters, through premium incentives, promoting sector stability.
See also
No related topics linked yet.
Past papers
2016–2026 · 5 questions
In the news
Welfare of shrimp farmer
Aquaculture insurance, supported by schemes like PM-MKSSY, offers financial protection to fish farmers against various risks, including diseases and natural disasters, through premium incentives, promoting sector stability.
Try these PYQs
With reference to ‘Pradhan Mantri Fasal Bima Yojana’, consider the following statements:
1. Under this scheme, farmers will have to pay a uniform premium of two per cent for any crop they cultivate in any season of the year.
2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.
Which of the statements given about is/are correct?
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance scheme. Statement 1 is Incorrect: Under this scheme, farmers have to pay a uniform premium of 2% for all Kharif crops, 1.5% for all Rabi crops, and 5% for commercial/horticultural crops. The premium rate is not uniform for all crops in all seasons. Statement 2 is Correct: The scheme does cover post-harvest losses arising out of cyclones and unseasonal rains. Hence, option B is the correct answer.
Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes?
1. Working capital for maintenance of farm assets
2. Purchase of combine harvesters, tractors and mini trucks.
3. Consumption requirements of farm households
4. Post-harvest expense
5. Construction of family house and setting up of village cold storage facility.
Select the correct answer
Under the Kisan Credit Card (KCC) scheme, short-term credit support is provided to farmers for purposes that directly support agricultural activities and the farm household. Statement 1 is correct. The KCC scheme provides working capital for the maintenance of farm assets, which includes things like irrigation, fertilizers, and labor costs. Statement 2 is incorrect. The KCC scheme does not cover the purchase of capital-intensive assets such as combine harvesters, tractors, and mini trucks. These are typically financed through long-term loans, not short-term credit. Statement 3 is correct. The KCC scheme provides credit for consumption requirements of the farm household, like daily needs and family expenditures. Statement 4 is correct. The KCC scheme can also be used for post-harvest expenses, including costs for storage, transportation, and marketing of produce. Statement 5 is incorrect. The construction of a family house and setting up of village cold storage facilities are not covered under the KCC scheme, as these are typically considered long-term capital expenditures. The list of eligible activities for KCC are:
- To meet the short-term credit requirements for cultivation of crops
- Post-harvest expenses, - Produce marketing loan - Consumption requirements of farmer household. - Working capital for maintenance of farm assets band activities allied to agriculture like dairy animals, inland fishery etc. - Investment credit requirement for agriculture and allied activities like pumpsets, sprayers, dairy animals etc. Hence, option B is the correct answer.
At the United Nations Ocean Conference (UNOC) held in June, 2025 in France, the Food and Agricultural Organization (FAO) of the United Nations demonstrated its leading voice on marine and ocean issues, especially on sustainable fisheries and aquaculture for resilient livelihood and "Blue Transformation".
Which of the following combinations about the "Four Betters" proposed by FAO for "Blue Transformation" is correct ?
The Food and Agriculture Organization (FAO) of the United Nations guides its global work through a strategic framework aimed at supporting the 2030 Agenda for Sustainable Development. The core organizing principle of this framework is the transformation to more efficient, inclusive, resilient, and sustainable agrifood systems to achieve the "Four Betters". The "Four Betters" are officially defined as:
1. Better Production: Ensuring sustainable consumption and production patterns.
2. Better Nutrition: Ending hunger, achieving food security, and improving access to healthy diets.
3. Better Environment: Protecting, restoring, and promoting the sustainable use of terrestrial and marine ecosystems.
4. Better Life: Promoting inclusive economic growth and reducing inequalities, leaving no one behind. The Blue Transformation is a specific FAO vision and programmatic priority area that aims to secure and maximize the contribution of aquatic food systems (fisheries and aquaculture) to achieve these overarching "Four Betters". Options A, C, and D are incorrect because they include fabricated pillars such as "better ocean", "better coral reefs", "better estuaries", or "better mangrove vegetation", which are not part of the FAO's official strategic framework. Therefore, Option B is the correct answer.
What is/are the advantage/advantages of implementing the ‘National Agriculture Market’ (NAM) scheme?
1. It is a pan-India electronic trading portal for agricultural commodities.
2. It provides the farmers access to the nationwide market, with prices commensurate with the quality of their produce.
Select the correct answer using the code given below :
E-NAM (National Agriculture Market) is an online trading platform for agriculture produce aiming to help farmers, traders, and buyers with online trading and getting a better price through smooth marketing. Statement 1 is Correct: Pan-India electronic trading portal (Correct) This is a core feature of NAM. It creates a unified online platform where farmers can connect with buyers from across the country, eliminating geographical restrictions and potentially increasing market access. Statement 2 is Correct: Access to nationwide markets and better prices (Correct) NAM allows farmers to see prices prevailing in various mandis (wholesale markets) across the country. This transparency empowers them to choose the market offering the best price for their produce, potentially fetching them higher returns compared to traditional, localised markets. Therefore, the correct answer is 1 and 2 both are correct.Hence, option C is the correct answer.
Consider the following statements about the Rashtriya Gokul Mission:
I. It is important for the upliftment of rural poor as majority of low producing indigenous animals are with small and marginal farmers and landless labourers.
II. It was initiated to promote indigenous cattle and buffalo rearing and conservation in a scientific and holistic manner.
Which of the statements given above is/are correct?
✅ Statement I: Correct
*RGM aims to conserve indigenous breeds, benefiting small farmers and landless labourers by improving animal productivity.* ✅ Statement II: Correct
*Launched in December 2014, the mission promotes scientific breeding, genetic upgradation, and conservation of indigenous breeds.* Correct Answer: (C) Both Statements I and II are correct.