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2,057 Crore Sanctioned For Crop Insurance | Trichy News


Trichy: The state government has sanctioned 2,057 crore for the crop insurance scheme for the current rabi season and also compensation from the state disaster management fund in the event of any loss incurred by farmers cultivating kuruvai crops due to any natural calamity.
In a statement issued here on Thursday, the government has chosen insurance companies including Agricultural Insurance Company, IFFCO-Tokio, Bajaj Alliance, HDFC Ergo and Reliance for the ensuing samba and summer crops.
Kuruvai crops are normally cultivated between April and July, and are generally not affected by natural calamities. However, in the event that crops are affected for any reason, the government will compensate eligible farmers from state disaster management fund, the release added.
The state government had earlier allocated 2,494.67 crore as compensation for crop loss and the same was disbursed to 12.26 lakh farmers during the 2020-21. This apart, the government disbursed 155 crore as compensation to 3.37 lakh farmers from the state disaster management funds, the release added.
“Despite the fund crunch, the government has announced allocating funds for the benefit of farmers. Once the government issues a notification in this regard, farmers can remit their premium through any Primary Agriculture Credit Cooperative Societies and cooperative banks or any of the nationalized banks,” the release added.

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