The Hindu : Money released for crop insurance

Online edition of India's National Newspaper
Wednesday, Dec 31, 2003

Southern States

Southern States - Karnataka

Money released for crop insurance

By Our Staff Reporter

Bangalore Dec. 30. The Agriculture Minister, H.K. Patil, today handed over a cheque for Rs. 50.13 crore, the second and final instalment to settle crop insurance claims in full, to a General Insurance Corporation (GIC) official and asked him to expedite payment to the farmers for the 2002 kharif season.

Handing over the cheque to C. Anbarasu, officer-in-charge, GIC, Karnataka State-level Crop Insurance Cell, at the Vidhana Soudha, the Minister said the State Government had already paid Rs. 53.50 crore out of Rs. 103.63 crore due to the GIC.

He said that the amount to be distributed to farmers under the crop insurance scheme for the kharif 2002 season was Rs. 268.24 crore. Out of this, Rs. 114.24 had already been distributed. Now, the remaining claims of Rs. 154 crore would be distributed. After deducting the premium collected from the farmers, the claim amount was equally shared by the State and Union Governments.

Mr. Patil said that the claim amount released during the 2002 kharif season was considerably higher than previous years. While Rs. 4.06 crore was released during 2000-01, the amount was Rs. 134.73 crore in 2001-02.

The last date for submitting documents to banks by farmers who had applied for crop insurance had been extended to January 15. Wednesday was the last day for applying for insurance. Thanks to widespread publicity, Mr. Patil said a large number of farmers had shown interest in availing themselves of the facility.

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