With a marginal increase in the premium amount, the crop damage compensation was raised by six times.
Providing big relief for farmers in the state, the state government has decided to increase the crop damage insurance up to six times with only a marginal increase in premium. The farmers can benefit from the increase in compensation from the next crop season, said Agriculture Minister V S Sunilkumar.
As per the revised scheme, the crop damage compensation for an acre of paddy would be raised to Rs. 35,000 from 12,500. Besides, the state government would provide Rs. 13,500 for an acre of paddy. The farmer's share in the insurance would be just 100. Similarly, with just Rs.7 premium for banana, the farmer would be compensated Rs.300 per plantain. Coconut farmers would be paid Rs. 2,000 per palm as crop damage compensation. At present the compensation per coconut palm is only Rs. 700
The decision to increase the crop insurance is good news for farmers who are facing unprecedented damages in the drought. As per an official data, crops in more than 30,000 hectares have been destroyed in the drought so far. The order regarding the new insurance scheme would be released next week.
Collective farming model, which was proved a success in paddy, would be replicated in other crops too. Out of these new collectives, 40% would be of youths. Plans are on the anvil to market the rice produced by each farmers' collective by branding them separately. With the help of these groups, the government hopes to achieve its target of doubling rice and vegetable production.