State government planning to launch new insurance scheme – The Hindu – 17th October 2018

Since farmers in many parts of the State have failed to get benefits of Pradhan Mantri FasalBimaYojana
within a stipulated time, the State government is planning to launch a separate insurance scheme to
ensure quick compensation settlement to farmers, Agriculture Minister N.H. Shiv shankar Reddy has said.
Speaking after inspecting drought-affected areas in different parts of the district here on Tuesday, Mr.
Reddy said the farmers pay insurance premiums with the intention of getting benefits at suitable time. If
the compensation was delayed for years, they would face severe problems. The insurance scheme
planned by the State government would provide compensation to farmers at the earliest. “The insurance
companies have collected a total of Rs1, 200 crore as insurance premium and repaid only Rs550 crore as
compensation. The remaining Rs650 crore is with companies,” he added.
He also said that the State government has launched several schemes to provide facilities to farmers
including drip irrigation facility, providing agriculture equipments and seeds and fertilizers. Officers of
the Agriculture Department should conduct awareness programmes in rural areas to ensure that benefits
of these schemes reach farmers in all villages, he added.
The State government has already taken steps to waive loans of farmers’ uptoRs1 lakh in co-operative
banks and orders have been issued to waive loans up to Rs2 lakh in rural and nationalised banks. It is
committed to solve farmers’ problems and ensure more facilities to them, he said. Read More

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