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Monday, October 25, 2021
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Insurance Cover for Farmers in Assam

GUWAHATI: Farmers of 29 districts in Assam have been covered under the Weather–Based Crop Insurance Schemes (WBCIS) for the 2014 Kharif season. About 11,477.362 hectares of land involving 21,660 farmers have been insured under this scheme.

The crops covered under WBCIS include both agriculture and horticulture crops like Sali paddy, jute, black gram, green gram, ginger, turmeric, lady’s finger etc- grown between June and September 2014.

The total amount collected under the scheme for the season so far was about Rs46.82 crore. While 50 per cent of this amount was paid by the farmers, the remaining 50 per cent was borne by the central and state governments, each paying 25 per cent.

As per the Central guidelines, the premium amount is 12 per cent of the total cost of cultivation for horticultural crops and 10 per cent of the total cost of cultivation for agricultural crops.

Eight insurance companies have been engaged in this exercise- the government run Agricultural insurance Company of India Ltd, ICICI Lombard General Insurance Company, HDFC Ergo GIC, Reliance General Insurance Company, Cholamadalam GIC Ltd, Future General Insurance Co Ltd, SBI General Insurance Co Ltd and Bajaj Allainz GIC Ltd.

The part of the premium paid by the central and state governments is subsidy to the farmers in regard to insuring their crops from the vagaries of weather.