Representational Image. Photo: Mathrubhumi Archives
Kottayam: A new plan is underway to revise the crop insurance scheme for Kerala farmers by altering the method of premium payment. Under the new arrangement, the state government will collaborate with insurance companies to share the responsibility. Currently, farmers bear the burden of paying the premium, while the government is responsible for compensating them. However, the distribution of compensation is often hindered due to insufficient government funds.
To address this issue, the government intends to increase compensation by involving insurance companies. This move aims to attract more farmers to participate in the scheme. The government has assigned a director to study the matter, and the department has granted preliminary approval to the proposed reform to engage companies. The implementation of these changes is scheduled for this year.
The selection of the insurance company is yet to be determined. In the previous financial year, the insurance scheme had 2.33 lakh members, with a total premium of Rs 494.29 lakh. Compensation amounting to Rs 4,082.51 lakh was disbursed.
The revised crop insurance scheme provides coverage for various calamities such as drought, flood, landslide, earthquake, cyclone, lightning, forest fire, and wildlife attacks. Additionally, it aids in pest control for paddy cultivation.
Coconut, banana, rubber, pepper, areca nut, cardamom, cashew, cashew, coffee, ginger, tea, tapioca, turmeric, cocoa, groundnut, sesame, vegetables, nutmeg, cloves, betel nut, pulses, tubers, sugarcane, tobacco, rice, wheat and millets can be insured under the scheme.