The government has released Rs. 3,100 crore as compensation for crop loss and to settle crop insurance claims for 2015-16, and the amount will be transferred to farmers’ accounts by next week.
“Over 6.25 lakh farmers will benefit with this move of the government,” said Minister of State for Agriculture Krishna Byre Gowda on Thursday.
Addressing presspersons, Mr. Krishna Byre Gowda said the government was implementing the Karnataka Raitha Suraksha Pradhan Mantri Fasal Bima Yojana (KPMFBY) from the present financial year by modifying a few norms in the crop insurance programme and has earmarked Rs. 675 crore for the purpose in the budget.
While the earlier scheme was benefitting only 10 to 12 per cent of the farming community in the State, with implementation of the KPMFBY the percentage of beneficiaries will double. “The target is to help a minimum of 15 lakh farmers and to have multiple crop insurance policies by the farmers,” the Minister said.
