Stalin launches crop insurance scheme announced in agriculture budget

The total compensation fund will be distributed through two companies, Rs 1,089.53 cr through IFFCO Tokio pvt Ltd and Rs 507.65 cr through Agriculture Insurance Company of India. The state in the recently submitted Agriculture budget announced Rs 2,327 crore as crop insurance for the year 2021-22 and out of the fund Rs 1,553.15 crore has been given as subsidy for crop insurance firms.

For the Samba season, 2021-22, the state issued a GO asking farmers to insure their crops and the scheme commenced from September 15. As on date, so far 61,871 farmers have insured their crops.

Following the inauguration of the crop insurance scheme, the Chief Minister also inaugurated buildings worth Rs 19.05 crore attached to the Animal Husbandry and Fisheries Department. The Chief Minister inaugurated a country chicken breeding centre, constructed at the cost of Rs 6.74 crore, in Hosur. He also inaugurated a building in Fisheries Institute of Technology and Training, in Muttukadu, constructed at the cost of Rs 8.8 crore and inaugurated a building in Centre for Sustainable Aquaculture in Jeeyapuram in Tiruchy district, constructed at the cost of Rs 3.5 crore.