Maharashtra govt releases ₹894 crore as crop insurance for farmers | mumbai news | Hindustan Times
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Maharashtra govt releases ₹894 crore as crop insurance for farmers

The state government released the amount which will be distributed to 26.88 lakh farmers in various parts of the state.

mumbai Updated: Mar 02, 2017 07:13 IST
Surendra Gangan
Besides soyabean, jowar, sunflower, wheat, onion, paddy are the crops which have been covered by the crop insurance.
Besides soyabean, jowar, sunflower, wheat, onion, paddy are the crops which have been covered by the crop insurance.(HT FILE)

The state government released Rs893.83 crore as insurance for farmers whose crops was damaged due to hailstorm and unseasonal rains in the 2015-16 rabi season.

The state government released the amount which will be distributed to 26.88 lakh farmers in various parts of the state. The highest compensation, Rs402 crore, will be distributed to 13 lakh farmers. Farmers in Aurangabad and Pune divisions will get Rs340.57 crore and Rs 107.36 crore respectively. Farmers in Marathwada district had lost soyabean and other crops due to the rains.

As many as 34.26 lakh farmers had participated in the national agriculture insurance scheme with their share of about 20% of the sum insured. The farmers paid Rs56.91 crore to insure the crop on 24.60 lakh hectare land with the insurance cover of Rs2865.40 crore.

“The insurance amount of Rs893.83 crore being released is for the crop loss between November 2015 and March-April 2016. The agricultural production was hit badly in 2015-16 due to the drought, but the compensation we paid against the insurance was unprecedented. Due to the satisfactory insurance settlement in the last one year, we have received very good response to the Prime Minister’s Crop Insurance Scheme in the current year,” said an
officer from the agriculture department.

Besides the premium share paid by the farmers, the state and central governments bore the burden of Rs408.92 crore each. Agriculture Insurance Company of India Ltd, which was the insurance company appointed by the state, will release the insurance amount in the bank accounts of the farmers. Besides soyabean, jowar, sunflower, wheat, onion, paddy are the crops which have been covered by the crop insurance.

The government had given a push to the crop insurance in the backdrop of the drought for consecutive three years.

The state had settled the insurance cover of Rs4,205 crore for loss of kharip crops, taken between July and November 2015.

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