Students plan model to curb farmers’ woes

As the state witnesses a drought-like situation in most of its districts during the monsoon this year, a group of students from the Jamnalal Bajaj Institute of Management Studies (JBIMS) are finding ways to tackle farmers’ problems.

They finding a new model to encourage farmers to insure their agri-produce, and save huge losses incurred every year. After visiting several drought-ridden regions, these students feel the government model needs to be modified to a huge extent to settle farmers’ crises.

Five finance students from JBIMS thought of working on the insurance project after reading a lot about the issues affecting farmers. In their secondary research they found out that agri-insurance if implemented properly could solve a lot of issues. “The agri-insurance policies cover only parameters like weather and crop insurances. Government policies, pest and diseases, improper cultivation, were other important factors, vital for any agri-produce,” said Anand Kulkarni, second year MBA student from JBIMS.

“The government schemes have just 14% penetration in rural India and it doesn’t touch the remote ones, according to a government document,” added Kulkarni. Students are also taking help from their friends and counterparts in the north region of the country to study the situation there. The project paper will be presented at the institute’s annual business convention, Strategym on October 27.