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LATEST NEWS UPDATES | Crop Insurance Claims Settlement Crosses Rs. 15,500 Crore Mark Benefitting Over 4 Crore Farmers

Crop Insurance Claims Settlement Crosses Rs. 15,500 Crore Mark Benefitting Over 4 Crore Farmers

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published Published on Jul 2, 2010   modified Modified on Jul 2, 2010


Crop insurance claims settlement has crossed Rs. 15,500 crore mark, benefitting over 4 crore farmers in the country.

Crop insurance claims worth Rs. 15,521 crore have been settled as on 24.06.2010. With Rs. 3041 crore, Gujarat is on the top followed by Andhra Pradesh (Rs.2600 crore), Maharashtra (Rs. 1481 crore), Karnataka (Rs. 1406 crore) and Bihar Rs. (1236 crore).

From Rabi 1999-2000 to Kharif 2009, 4.27 crore farmers have benefitted from the crop insurance under National Agriculture Insurance Scheme (NAIS). In terms of number of farmers benefitting from the settlement of claims, Maharashtra leads the tally with over 85 lakh beneficiary farmers followed by Rajasthan (51 lakh), Karnataka (43 lakh), Andhra Pradesh (39 lakh), Gujarat and Madhya Pradesh over 36 lakh each.

Rs. 950 crore have been allocated for the scheme in the current fiscal.

The scheme, launched in 1999-2000 (Rabi season), aims at providing insurance coverage and financial support to the farmers in the event of failure of any of the notified crops due to natural calamities, pests and diseases. Any farmer, including share-cropper, tenant farmer, growing notified crops in the notified area irrespective of the size of landholding can avail of the benefit.

All food crops/oilseeds and annual commercial/horticultural crops in respect of which past yield data is available for adequate number of years are covered under it. Sum insured may extend to the value of threshold yield of the area insured. Flat premium rates range between 1.5% to 3.5% for food and oilseed crops and actuarial rates for annual commercial/horticultural crops. 10% subsidy in premium is given to small and marginal farmers. Scheme is compulsory for loanee farmers and optional for non-loanee farmers. The scheme is implemented by Agriculture Insurance Company of India Ltd.


Press Information Bureau, 1 July, 2010, http://www.pib.nic.in/release/release.asp?relid=62964


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