Commodity Analysis

Andhra Pradesh to set up firm to run crop-insurance scheme

| Updated on September 06, 2020 Published on September 06, 2020

 

Even as the kharif season sowing is coming to a close, farmers in Andhra Pradesh are busy enrolling for the crop insurance scheme, which is being promoted by the State.

Andhra Pradesh, which is among the few States that have chosen to have their own crop-insurance schemes, is in the process of establishing AP General Insurance Company (APGIC) to run the scheme.

“The farmers have been asked to enrol for the scheme by September 5 by paying a nominal premium fee of ₹ 1. But we don’t have the detailed guidelines though the deadline is fast approaching,” Keshava Rao, Secretary of the Andhra Pradesh Rythu Sangham, told BusinessLine.

The State had begun implementing its own scheme from the rabi season. “We have not come out with a fresh notification for the scheme applicable for the kharif. But it is going to be on the same lines as that of the rabi one,” said a senior government official.

The State government has reportedly received the IRDA’s (Insurance Regulatory Development Authority) approval to form the insurance company.

“We have asked the government to go with the public general insurance companies instead of assigning the job to private companies. We have also asked the State government to set up offices in districts as well to make it easier for farmers to get their claims processed quickly,” said Keshava Rao.

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Published on September 06, 2020
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