TN allocates Rs 2,339 cr as farm insurance subsidy – Investing NewsEverything

Chennai, Dec 2 (IANS) The Tamil Nadu (NS:) agriculture department has allocated Rs 2,399 crore for crop insurance subsidy to the farmers in case of a natural disaster and has requested the farmers to enroll in the scheme before December 31.

The farmers will have the facilities to register in primary agricultural credit cooperative societies, common service centres, or nationalised banks. The farmers will have to remit 1.5 per cent of the subsidy amount to be claimed as a registration fee.

During the southwest monsoon there was extensive damage to crops across Tamil Nadu with Rabi crops being the most affected in the state. Chief Minister M.K. Stalin had then announced special subsidy schemes for the farmers and that money would be allocated to provide loan subsidies to the farmers.

The Kuruvai farmers had suffered huge losses in the recent rain and even the harvesting machines could not be used due to heavy inundation in the paddy fields. Most of the farmers had suffered losses and the announcement of the government allocating Rs 2,339 crore as crop insurance subsidies has come as a big relief.

Sukumaran, a farmer from Myladuthurai in Tamil Nadu while speaking to IANS said, “We suffered huge losses during the October rain and the announcement that the government has allocated Rs 2,339 crore for crop insurance subsidy is a relief. Will register before the deadline of December 31.”

–IANS

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