About ₹66.09 crore has been released as compensation under the crop insurance scheme to about 23,900 farmers in the district who had insured their paddy, maize and cotton crops during the Rabi season in 2020-21.
While 11,305 farmers, who had raised paddy and suffered crop damage, have been sanctioned a compensation of ₹19.05 crore, 11,938 maize growers have been sanctioned ₹45.36 crore. A compensation of ₹1.68 crore has been released for about 650 farmers who had raised cotton, Collector S. Sivarasu said in a statement.
The Agriculture Department has called up farmers cultivating paddy, maize and cotton during the Rabi season during the current financial year to insure their crop. All farmers, including tenant farmers, can insure their crops. Farmers who have not taken crop loans can also insure their crops by paying the premium and submitting relevant documents at nationalised bank branches or agricultural cooperative societies.
For paddy, farmers will have to pay a premium of ₹537 an acre and for cotton, the premium will be ₹585.87. The last date for paying the premium for the two crops is November 15. For maize, the premium will be ₹373.50 an acre and the last date for insuring the crop will be November 30. However, farmers were advised to insure their crops at the earliest without waiting till the last date for payment of the premium.
