Comments
The Telangana government has released Rs 100 crore to the Agriculture Department for the implementation of the farmers’ insurance scheme, which will be launched on Independence Day.
The 2018-19 budget had allocated Rs 600 crore for the scheme. “The government has authorised Rs 500 crore for the scheme. Of this, Rs 100 crore has been released to the department, towards implementation of the scheme,” a Government Order said on Tuesday.
The state government has tied up with the public sector Life Insurance Corporation of India (LIC) to roll out the ambitious insurance scheme, that seeks to provide a cover of Rs 5 lakh to all farmers in the age group of 18 to 59 years. The scheme would cost about Rs 1,000 crore annually, with the state government agreeing to pay a premium of ₹2,271 for a farmer.
The department has been assigned the job of preparing the list of eligible farmers, besides facilitating the roll-out of the scheme. LIC officials will work with the department to enrol farmers and hand over the policy documents to them. The policy holders can propose a nominee of his or her choice to receive the proceeds in case of his or her death.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.