The Central government's path-breaking weather-based crop insurance scheme will be implemented on a pilot basis in Nagpur and Wardha districts. The scheme will cover two main cash crops, cotton and soyabean.
As per the advisory issued by divisional joint director of agriculture, these two districts will be part of 12 districts where the scheme is being implemented in the state. Under it, in the notified area of the two districts, the scheme is compulsory for those availing institutional finance and voluntary for those not availing bank loans.
This is a novel crop insurance policy giving assured protection in cases of inadequate rains, unusually long dry spells damaging crops or extreme rains ruining crops. While every farmer in Wardha revenue district growing cotton or soyabean can get enlisted, in Nagpur district only farmers in specified areas can avail of it. The farmer pays half of the insurance premium, while the state and the centre share the other half.
As per the advisory, the insurance premium rates are Rs2,090 per hectare for cotton in Nagpur. Of this, farmer has to contribute only Rs1,056 per ha. For soya crop in Nagpur, the premium is Rs1,254/ha (farmer share Rs752). Similarly in Wardha, it is cotton Rs2,486/ha (farmer pays Rs1,245) and for soya crop Rs1,159 (farmer pays Rs7,14). The sum assured for cotton is Rs22,000 and soya Rs19,000/ha in both districts. June 30 is the last date for registration and a farmer can approach the bank where he has his savings account.
Source - http://timesofindia.indiatimes.com/
