The Hindu Business Line : Income insurance for farmers in Madurai dt

MADURAI: For the first time in the State, Farmers' Income Insurance, a pilot scheme of the Central Government, has been introduced in Madurai district.

According to Mr P. Ramaraju, Joint Director of Agriculture, the Agriculture Insurance Company has chosen 25 districts across the country for implementation. The scheme ensures the farmers a minimum guarantee income of Rs 23,560 for hectare. Farmers enrolling will have to remit the requisite premium amount fixed by the Government in select Primary Co-operative Agriculture Banks .

Small and marginal farmers, eligible for 75 per cent subsidy, will have to remit a premium of Rs 290 per hectare while other ryots, eligible for 50 per cent subsidy, will have to pay Rs 580 per hectare, as against the full premium of Rs 1,180 per hectare.

Farmers who insure will be compensated for crop loss due to pest attack, drought or flood and a fall in the market prices for paddy. If the income is less than Rs 23,560 per hectare, the policy-holders will be paid the difference in the amount.

The agriculture department will conduct crop-cutting experiment at random in different areas in the block and assess the average yield of paddy per hectare. The income of the beneficiaries would be determined on the basis of prices prevailing locally.

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