The broad structure of the Modified National Agricultural Insurance Scheme (mNAIS), the main crop insurance program in India, is technically sound and appropriate in the context of India. The NAIS is based on an indexed approach, where the average crop yield of an insurance unit, or IU, (i.e., block) is the index used. The insurance is mandatory for all farmers that borrow from financial institutions, though insurance cover is also available to non-borrowers. The actual yield of the insured crop (as measured by crop cutting experiments) in the IU is compared to the threshold yield. This report offers a detailed analysis of a number of technical and operational issues that should be addressed if mNAIS is to be implemented. GOI is to be complemented on its bold vision of the future of agriculture insurance through modifying NAIS, an action which, if well implemented, has the potential for significant economic and political economy gains.