State government planning to launch new insurance scheme
Since farmers in many parts of the State have failed to get benefits of Pradhan Mantri Fasal Bima Yojana 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. Shivshankar 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 1,200 crore as insurance premium and repaid only 550 crore as compensation. The remaining 650 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.