The Hindu Business Line : Rs 185-cr crop insurance for AP farmers released

THE Agriculture Insurance Company of India Ltd (AIC) has released Rs 185.49 crore claims to benefit around 3.29 lakh farmers cultivating four major crops in Andhra Pradesh.

While the share of AIC is Rs 52.43 crore, the balance of Rs 133.06 crore would be shared equally by the Government of AP and the Centre.

The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, said persistent efforts have enabled this step, after receiving the cheque from the Regional Incharge of AIC Ms Rajeswari Singh.

He said the early release of the insurance claim would help the already burdened farmers. Normally the claims are disbursed during September-October, which is not very helpful.

Under the National Agricultural Insurance Scheme during Kharif 2003, about 15 lakh loanee and non-loanee farmers insured their crops for a sum insured of Rs 2,030 crore and paid premium of Rs 47 crore excluding subsidy of Rs 7 crore for small and marginal farmers, to the implementing agency (AIC) for all notified crops in Andhra Pradesh.

The claims break-up includes groundnut (Rs 149.08 crores); paddy (Rs 23.90 crore); sugarcane (Rs 7.52 crore), cotton (Rs 4.26 crore) and other crops (Rs 0.73 crore).

More Stories on : General Insurance | Andhra Pradesh

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