The Hindu : Andhra Pradesh News : Ryots told to take crop insurance

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Tuesday, Jul 01, 2008
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Andhra Pradesh

Andhra Pradesh

Ryots told to take crop insurance

Staff Reporter

Kakinada: The Agriculture Department has called upon the farmers to take crop insurance scheme from this kharif season to obtain compensation in the event of damage of paddy, sugarcane, cotton and plantains during the rainy season.

The extent of crop damage will be assessed by taking a village as unit for the purpose of extending the insurance benefit to farmers, Joint Director of Agriculture T. Nandaiah stated in a press release here on Sunday.

A subsidy of 10 per cent is being given in premium to small and marginal farmers. The scheme will be automatically applicable to farmers who took loans for above crops from commercial, cooperative and regional rural banks and premium amounts will be deducted from loans at time of sanction.

Such farmers should take receipts as proofs of deduction of premiums from the loans.

Farmers who did not take loans so far, have to open bank accounts before July 31, 2008 and pay the premiums to avail themselves of the scheme.

Further details can be known from the mandal level agriculture officers or bankers in the respective service areas.

The rates of premium are: paddy 2.50 per cent, sugarcane 3.15 per cent, cotton 8.55 per cent and plantains 8.10 per cent.

Whenever yield loss occurs the compensation will be calculated by the Agriculture Insurance Company of India Limited and the same will be credited to the eligible farmers’ accounts.

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