people, public, private partnership to mitigate the risk and ensure financial security alok shukla
TRANSCRIPT
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People, Public, Private Partnership to Mitigate the Risk and Ensure Financial Security
Alok Shukla
![Page 2: People, Public, Private Partnership to Mitigate the Risk and Ensure Financial Security Alok Shukla](https://reader036.vdocuments.us/reader036/viewer/2022083008/56649ebc5503460f94bc5531/html5/thumbnails/2.jpg)
P^4 – The Need
Sustained Partnershi
p
NeedBenefit /Trust
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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
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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
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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
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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
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THANK YOU