How vulnerable is Indian agriculture to climate change?

Most Indian farmers are not covered by insurance and all do not receive relief for crop damage, yet on an average these payouts averaged about Rs24,000 crore per year between 2014-15 and 2016-17

Sayantan Bera
Updated28 Mar 2018
The total economic loss to agriculture could be many times higher— last year’s Economic Survey noted that India incurs losses of about Rs62,000 crore due to extreme weather events. Photo: Ramesh Pathania/Mint
The total economic loss to agriculture could be many times higher— last year’s Economic Survey noted that India incurs losses of about Rs62,000 crore due to extreme weather events. Photo: Ramesh Pathania/Mint

Climate change has hit farmers and governments hard as drought, hailstorms and floods become more frequent. Most Indian farmers are not covered by insurance and all do not receive relief for crop damage. Yet on an average these payouts averaged about Rs24,000 crore per year between 2014-15 and 2016-17.

The total economic loss to agriculture could be many times higher— last year’s Economic Survey noted that India incurs losses of about $9-10 billion annually (Rs62,000 crore) due to extreme weather events.

Rs71,124 crores

What farmers received as insurance payouts and relief for crop loss due to climate events like drought, floods and hailstorms in just three years between 2014-15 and 2016-17.

Maharashtra

The most vulnerable state in India where farmers received Rs16,330 crore in relief and insurance payouts

2016-17

An overall normal monsoon year when farmers received a staggering Rs18,512 crore in payouts and relief due to erratic rainfall distribution

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
HomepoliticspolicyHow vulnerable is Indian agriculture to climate change?

Most Active Stocks

Bharat Electronics

307.90
10:28 AM | 1 JUL 2024
1.7 (0.56%)

Tata Steel

174.10
10:27 AM | 1 JUL 2024
0.1 (0.06%)

Wipro

527.25
10:25 AM | 1 JUL 2024
12.35 (2.4%)

ICICI Bank

1,212.15
10:18 AM | 1 JUL 2024
12.35 (1.03%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Garden Reach Shipbuilders & Engineers

2,307.80
10:23 AM | 1 JUL 2024
208.25 (9.92%)

Mahanagar Gas

1,746.20
10:29 AM | 1 JUL 2024
149.45 (9.36%)

Chalet Hotels

873.20
09:59 AM | 1 JUL 2024
71 (8.85%)

Home First Finance Company India

1,126.65
09:59 AM | 1 JUL 2024
90.85 (8.77%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    73,272.000.00
    Chennai
    73,703.000.00
    Delhi
    72,984.000.00
    Kolkata
    73,200.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts