Fri. Mar 29th, 2024
India Water Portal

More of Rs 4,000 crore, needs to be spent by the government on the scheme of revamped crop insurance after making it volunary from the upcoming season of kharif.

From existing 12.5%, the annual premium would get hike by 2% as total number of participating would experience a downfall by 30%..

Sinch launch the average number of participating farmers over the last three crop seasons has been 37.5 million with around 58% of them having different crop loan.

The cost of insurance cover is about to experience a hike with the shares of government in total premium going up by Rs 4,000 crore.

The normal monsoon can be one of the factors in discouraging farmers from getting enrolled in the scheme of crop isurance.

The officials also added on to it that farmers who are in the zones of low risk of Madhya Pradesh will withdraw from this scheme.

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