India: Crop insurance schemes for farmers in Kerala
Particulars of the applicability of the scheme for crops in various districts have been specified by the State Level Coordination Committee on Crop Insurances. Agricultural Insurance Company of India Ltd., a Union government enterprise, will be the implementing agency. While farmers who have taken agriculture loans from banks and approved financial institutions are covered under the scheme, for other ryots it is voluntary. The scheme is being implemented jointly by the Union and the State governments.
Under the MNAIS scheme, the yield of the particular crop, as decided by the authorities, is the criterion and all the farmers insured under the scheme will be eligible for compensation if the yield falls below the stipulated limit.
Under the WBCIS scheme, Rs.10,000 will be the insured amount for an acre and the insurance premium is Rs.200. The insurance amount for plantain for an acre is Rs.40,000 and the premium is Rs.2,200, and the scheme will be applicable in districts other than Alappuzha, Pathanamthitta, and Kottayam.
For cashew and sugarcane, the insurance coverage for an acre will be Rs.20,000 and Rs.12,000, respectively, while the premium will be Rs.1,100 and Rs.660, respectively. The scheme for cashew will be applicable in Palakkad, Kozhikode, Kannur, Kasaragod, and Malappuram districts.
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