Ministry/Department : Ministry of Commerce and Industry
Objective : To protect plantation growers from the risks such as pest attacks, yield loss and income decline caused by fall in prices.
Scheme:
- RISPC announced in September 2016 is improved form of the Price Stabilization Fund (PSF) Scheme, 2003 which was closed 2013.
- It was launched for protecting growers of plantation crops from twin risks of :
- Yield loss due to pest attacks, adverse weather parameters etc. and
- Income loss caused by fall in domestic and international prices.
- It shall be covering tea, coffee, rubber, cardamom and tobacco plantations and shall be implemented by the commodity boards.
- It will be implemented on a pilot basis for two years i.e. till 2018 in eight districts in West Bengal, Kerala, Andhra Pradesh, Assam, Karnataka, Sikkim and Tamil Nadu.
- On the basis of performance of the scheme in pilot project, it will be considered for extension to other districts.