Govt approves insurance cover for crops damages due to wild animals | Daily Current Affairs 2021

Govt approves insurance cover for crops damages due to wild animals

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The Union Government has decided to cover damages done to crops in case of wild animal attacks under the Pradhan Mantri Fasal Bima Yojna in select districts on an experimental basis.

According to the information shared by a government official, the government also brought certain horticultural crops under the ambit of Fasal Bima Yojna ambit on an experimental basis. Initially, Fasal Bima Yojna did not previously cover damages incurred to an individual or a limited number of cultivators during unprecedented localised events such as waterlogging, landslide and hailstorms. However, now under its new provisions, the protection scheme will cover all these events.
The new provisions of the crop insurance scheme were amended in consultation with various stakeholders and the amendments have been implemented from this month. The amended provisions also stipulate penalties in cases of delay in clearing the insurance claims for crop damages. The farmers will be paid 12 per cent interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date. The state governments will be required to pay 12 per cent interest for the delay in the release of the state share of subsidy beyond three months of prescribed cut-off date submission of requisition by insurance companies. The new provisions come at the onset of the rabi season, which starts from October 1.

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