Under Prime Minister Crop Insurance Scheme, it was decided that farmers will have to pay 5% premium for yearly commercial and yearly horticulture crops and 2% premium for yearly food crops and oil-seeds including pulses growers. And state and central government's share for assistance will be equally on further premium.
Moreover, for kharif season cotton (irrigated & Non-irrigated) and banana crop, total 5.14 lakh farmer occupants will be paid total Rs. 317.71 crore premium assistance (including additional 3% assistance) by state government for approximately 10.42 lakh hectare insured area. As many as 7.80 lakh farmers who are growing food crops including pulses and oil-seeds crops will get Rs. 908.88 crore premium assistance for approximately 28.00 lakh hectare area. This assistance is over and above the 2% premium on the part of farmers.
According to the proposal for insurance premium assistance of Rs 884 crore to 6.76 lakh groundnut farmers in 14.34 lakh hectares area, premium assistance of Rs 317.70 crore to 5.13 lakh cotton farmers in 10.41 lakh hectares area, premium assistance of Rs 12.98 crore to 1.01 lakh paddy farmers in 1.37 lakh hectares area, premium assistance of Rs 7.57 crore to 0.42 lakh millet farmers in 1.02 lakh hectares area and premium assistance of Rs 2.62 crore to 0.35 lakh castor farmer in 1.02 lakh hectares area will be provided by the state government.
Source : Times of India