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Tamil Nadu
Crop insurance scheme gaining in popularity
Special Correspondent
CHENNAI: Crop insurance scheme is gaining popularity among farmers in the State. There had been a gradual increase in the number of farmers covered under the scheme.
About 5.5 lakh farmers had been covered in the last financial year compared to one lakh farmers in 2005, and about three lakh farmers in 2006.
Premium rates for different crops per hectare has been fixed by the Agricultural Insurance Company of India and paddy, dhal, groundnut, cotton, sugarcane, turmeric and oilseeds are some of the crops covered.
The State Government is meeting 50 per cent subsidy on premium and for this the State has allocated Rs. 3 crore in 2006-07, Rs. 15 crore in 2007-08 and Rs. 40 crore in the current financial year.
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