Hyderabad: The state government is coming out with its own crop insurance scheme from the ensuing kharif season in June, after the Centre’s Pradhan Mantri Fasal Bima Yojana has failed to attract farmers.
In the proposed scheme, the state government will contribute a major portion of funds and collect a nominal premium from the farmers.
For payment of the claim, the farmer will be taken as a unit instead of the village or the mandal as in previous such schemes. Chief Minister K. Chandrasekhar Rao has directed the agriculture department to draft the modalities for the scheme and submit it to the government for approval.
'The scheme will cover both kharif and rabi crops. The loss caused to crops on account of drought and other natural calamities will be assessed in a fast track mode and the compensation amount will be remitted in the bank accounts of farmers within seven days,” said an official.
This new scheme is part of the CM's plan to assist farmers at every stage, right from providing investment subsidy for sowing to getting remunerative prices for their produce in market yards. The CM has already announced financial assistance of Rs 8,000 per acre towards crop investment from next year.
The new scheme will be officially announced by the agriculture department after it is approved by the Chief Minister.
