Industry And Cluster | News & Insights

Haryana Cotton Growers Enrolled Under Govt. Schemes Need Not to Worry About Increase in Premium Rate

Published: July 23, 2020
Author: Millionaires

 

Cotton growers in Haryana, who have enrolled for Pradhan Mantri Fasal Bima Yojana’ (PMFBY), a crop insurance scheme and crop diversification scheme Mera Pani-Meri Virasat, will not have to worry about any increase in the premium rates. The state government will bear 100 % cost of insuring the alternate crops.

 

Additional chief secretary, agriculture, Sanjeev Kaushal said following modifications in the central government’s crop insurance scheme, farmers will have to pay 2% of the sum insured for Kharif, 1.5% of the sum insured for Rabi, and 5% for cotton, which is a commercial and annual crop.

 

“However, farmers who opt to cultivate alternate crops, including cotton, under the state’s crop diversification scheme will not have to pay any insurance premium. The state government will also bear 100 % premium share of maize crop in eight blocks in five districts,” Kaushal said.

 

About 49 lakh farmers in Haryana were covered under the insurance scheme between Kharif 2016 and Kharif 2019. A premium of ₹2,524 crore was paid during this period of which farmers paid ₹ 812 crore, the state government paid ₹996 crore and central government paid ₹716 crore. In comparison, the farmers received ₹ 2,662 crore as claims.

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