Crop Insurance Scheme, Tamil Nadu

Tamil Nadu government started a crop insurance scheme for compensating the crop loss amount to the farmers in case of adversities. This scheme was announced in the state for securing the farmers in the state from unavoidable losses. Applications were invited from the farmers under this scheme. Insurance premium under this scheme is borne by the state government. On October 18, 2021 Chief Minister MK Stalin inaugurated the scheme and started the distribution of the compensation under this scheme. Total compensation amount of Rs. 1597.18 crores will be distributed through insurance companies.

Overview:

Objectives and Benefits:

• Crop insurance scheme mainly aims to compensate and support the farmers facing crop loss.
• It tends to cover all the eligible farmers across the state.
• Under this scheme insurance cover will be provided for securing the farmers in times of adversities and crop loss.
• It tends to secure livelihood of the farmers in times of adversities.
• Easy registration process is made available for feasibility of the farmers.
• This scheme tends to ensure welfare of the farmers thereby leading to overall development of the agriculture sector in the state

 Key Points:

• Chief Minister of Tamil Nadu, MK Stalin launched crop insurance scheme for farmers in the state.
• Farmers cultivating kuruai, samba and winter crops will have to register under this scheme as per their land cultivation.
• Under this scheme insurance cover will be provided for securing the farmers in times of adversities and crop loss.
• This mainly aims to compensate and support the farmers facing crop loss.
• Insurance premium amount will be borne by the state government.
• Insurance companies will pay the compensation amount to the farmers through insurance companies after verification of loss.
• This scheme intends to compensate about 6 lakh affected farmers in the state.
• On October 18, 2021 Chief Minister MK Stalin inaugurated the scheme and started the distribution of the compensation under this scheme.
• Total compensation sanctioned under the scheme is Rs. 1597.18 crores.
• This scheme will encourage farmers to cultivate crops thereby covering the risk of adversities.
• State government is making various efforts for overall agricultural development wherein a separate agricultural budget account is made for the department of agriculture.
• The state government intends to boost agricultural development in the state thereby securing and increasing the livelihood of farmers across the state.