Farmers in Bhandara district have received meagre settlement from Agriculture Insurance Corporation of India for crop losses incurred last year. Small farmers holding up to 5 acres got 441 from the company while the premium paid was 135 per acre. Similarly, farmers having more than 5 acres received 1,100 while the premium was 1,235.
The farmers, 1,564 small and general, and 120 big, had paid the premium through banks from where the crop loan was taken, particularly Bhandara District Central Cooperative Bank, in 2014-15. As per norms, the sum insured per acre for small farmer is 6,000 and sum insured per acre for big farmer is 14,960.
Palandur Revenue circle (taluka Lakhani) is the worst affected in the district where the average crop was below 60%. The insurance company settled claim of 1,800 farmers from the circle. They should have got claim of 5,200 per acre as per the minimum support price offered by the government. However, farmers got a very low settlement amount.
Source - http://timesofindia.indiatimes.com
