Impact of Climate Change in Agriculture: Need for Agricultural Insurance
- Ajay Pratap Singh
- Feb 12, 2024
- 2 min read
Updated: Mar 24, 2024
Km. Siddhi
LL.B, LL.M, Ph.D. Research Scholar, Deen Dayal Upadhyaya Gorakhpur University, Gorakhpur
Dr. Suman Lata Chaudhary
Assistant Professor, Deen Dayal Upadhyaya Gorakhpur University, Gorakhpur
Abstract
Farming is the foundation upon which our society is built. The most fundamental requirements for a human being are food, clothing, and a place to live, with food holding the most significant position. Agriculture was initially done for the purpose of ensuring one's own existence as well as the survival of one's own family members, but as time went on, it evolved into a business as well. Agriculture continues to be the primary source of income for the majority of people in India, which is significant because India is mostly an agricultural nation. The most significant problem that the modern world is facing is climate change. This is due to a number of factors which have caused the environment to become uncertain and has resulted in the loss of agricultural products. The loss that a farmer experiences is not only a loss of potential profits; it is also a loss of his capital. This circumstance leads to the financial instability of the individual who is affected by it, which ultimately extends to the cases of suicide. For the purpose of addressing the aforementioned circumstance, the idea of agriculture insurance has evolved all over the world. Under this type of insurance, a person will receive a certain amount in the form of a claim. Even while the government has taken some actions in this area, they are not enough to meet expectations. In this paper, I will address the influence that climate change has had on agriculture and the necessity of agricultural insurance as a result of this relationship.
Keywords
Agriculture, Insurance, Climate change, Agricultural produce, Financial