People, Public, Private Partnership to Mitigate the Risk and Ensure Financial Security

Alok Shukla

P^4 – The Need

Sustained Partnershi

p

NeedBenefit /Trust

P^4 – Current Scenario

• People :

– Farmers : Facing risk of crop yield uncertainty

• Public :

– Government : Facilitates and subsidizes income safety for farmers– Institutes : Support with technical inputs

• Private :

– Data providers : Setting up infrastructure – Insurers : Underwriting the risk

While current PPP scenario caters to basic requirement, it lacks a collective long term approach

P^4 – Address the real problem

• Problem : Risk of crop failure

• Question : How can P^4 address this problem?

Risk Identificatio

n

Risk Assessmen

t

Risk Avoidance

Risk Retention

Risk Transfer

Insurers : Current Intervention

Insurers : Possible Intervention

P^4 – Proposed solution

• Long term allocation of districts to insurers

• Insurers to work closely with farmer/ farmer’s representatives, district agriculture officers, regional research institutes on risk reduction

• How will this help the stakeholders?

Farmers : Risk reduction which would lead to income stabilization and increase

Insurers : Risk reduction

Government : Social security

P^4 – Need of the hour

• Pilot projects to address current challenges

• Long term partnerships

• Inputs from farming associations/ farmers representative while designing products

• Long term approach while evaluating a program

• Closer coordination between all the stake holders to ensure greater transparency

THANK YOU