The district administration has secured crop insurance of ₹ 175 crore for 2017-18 under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
When the farmers suffered 100% crop loss in 2016-17, the administration secured a crop insurance of ₹530 crore from the Agriculture Insurance Company of India (AICL) under the PMFBY. When they suffered 100% loss in 2017-18 ALSO, the AICL delayed the compensation.
The administration took up the issue with AICL and secured the first instalment of ₹48.68 crore and second instalment of ₹131.92 crore on Wednesday, Collector K. Veera Raghava Rao said. The amount would be credited into bank accounts of farmers by March 12. “We have secured the first two instalments after taking efforts and would go all out to secure the balance in the coming days,” he said.
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Officials said a total of 1.53 lakh farmers had insured their paddy and other crops raised on 1.25 lakh hectares in 2017-18 by paying a premium of ₹ 10.22 crore. The administration had secured total crop insurance of about ₹ 530 crore in 2016-17 for 1.29 lakh farmers. “We may not get a similar amount for the year 2017-18 but trying to get ₹ 350 to 400 crore,” officials said.