Hyderabad: With the monsoon and the new Kharif season approaching, the state government is gearing up to implement the crop insurance scheme announced by Prime Minister Narendra Modi recently.
Lack of insurance cover is one of the reasons for the spate of farmer suicides if the crop is lost. The terms are stringent because of which many farmers do not opt for the scheme.
In the new scheme, Pradhan Mantri Fasal Bima Yojana, norms have been liberalised wherein the village will be taken as a unit instead of the mandal. The state government has notified 12 crops for insurance cover under this scheme.
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Mr Modi who announced the scheme in January this year had expressed confidence that the new scheme will bring about a major transformation in the lives of farmers as it expands the definition of disaster and addresses whatever was lacking in the previous schemes.
Agriculture minister Pocharam Srinivas Reddy said the guidelines on payment of premium and compensation would be released in a week. “We will insist on all banks to implement crop insurance scheme at the loan disbursal stage itself,” he said.
