Financial Daily from THE HINDU group of publications
Friday, Jun 11, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 11, 2004 |
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Agri-Biz & Commodities
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General Insurance Farm Income Insurance Scheme withdrawn Our Correspondent
MADURAI: The implementation of Farm Income Insurance Scheme, introduced during 2003-04, has been withdrawn. Designed to provide a comprehensive crop insurance cover to farmers against loss in farm income due to fluctuations in yield and price, the scheme was adopted as a pilot project in respect of paddy and wheat at a block each in 25 States. Implemented by the National Insurance Company, the scheme carried a subsidy of 75 per cent on the premium, given by the Union Government in respect of small and marginal farmers and 50 per cent in respect of others. Poor response from farmers, has led to its withdrawal.
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