Nothing can be so good for the Haryana farmers as they can stop worrying about bad impact of the extra cost in adverse weather conditions
The Haryana State Government will soon have weather-based crop insurance for wheat in place and the task to scrape the pilot has been given to Agriculture Insurance Company of India and ICICI Lombard.
Talking on this occasion, Ashok Yadav, the regional manager of Agriculture Insurance Company of India, said: "Under this scheme wheat crop will be insured at the rate of Rs 15,000 per acre. About 1.5% share of the premium will be given by the farmer and the rest shared by the state government and Centre on 50-50 basis. A cover of 15,000 per acre will be provided."
The main benefits of weather insurance include protection of farmers from extreme temperature and rain. The main idea to float this scheme is to encourage farmers to produce a good crop even in adverse weather. Because from now on, farmers don’t have to worry about the extra expenditure for bad weather as it’ll be covered by the insurance.
Under this scheme the insurance cover would be mandatory for loan takers and those who hold Kisan Credit Cards.
The scheme ensures quicker settlement of claims. Under it a third-party weather station would be roped in for weather statistics.
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