Consider the following statements about Revenue Insurance Scheme for Plantation Crops (RISPC):
1. It is a scheme of the Ministry of Commerce and Industry.
2. It is for protecting growers of tea, coffee, rubber, cardamom and tobacco from the twin risks of weather and price arising from yield loss.
Which of the statements given above is/are correct?

1 only

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2 only

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Both 1 and 2

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Neither 1 nor 2

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Solution

The correct option is C Both 1 and 2
Revenue Insurance Scheme for Plantation Crops (RISPC) is a scheme launched by Ministry of Commerce and Industry. It is for protecting growers of tea, coffee, rubber, cardamom and tobacco from the twin risks of weather and price arising from yield loss due to adverse weather parameters, pest attacks etc. and from income loss caused by fall in international/domestic prices through crop insurance mechanism. The scheme is an improved form of the Price Stabilisation Fund (PSF) Scheme of 2003.

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