April 22, 2024

Justice for Gemmel

Stellar business, nonpareil

AP to set up crop insurance firm

Even as the kharif year sowings are coming to a close, farmers in Andhra Pradesh are occupied enrolling for the crop insurance plan scheme, which is staying promoted by the State.

Andhra Pradesh, which is between the couple States that have selected to have their individual crop insurance plan techniques, is in the approach of developing AP Standard Insurance plan Firm (APGIC) to run the scheme.

“The farmers have been requested to enroll for the scheme by September five by paying out a nominal premium charge of ₹1. But we really don’t have the specific tips although the deadline is speedy approaching,” Keshava Rao, Secretary of the Andhra Pradesh Rythu Sangham, advised BusinessLine.

The State experienced begun implementing its individual scheme from the rabi year. “We have not arrive out with a fresh new notification for the scheme relevant for the kharif. But it is going to be on the very same strains as that of the rabi one particular,” mentioned a senior authorities formal.

The State authorities has reportedly obtained the IRDA (Insurance plan Regulatory Progress Authority) nod to kind the insurance plan enterprise.

Swift claim settlement

“We have requested the authorities to go with the public common insurance plan businesses in its place of assigning the job to non-public businesses. We have also requested the State authorities to established up offices in districts as properly to make it much easier for farmers to get their claims processed rapidly,” mentioned Keshava Rao.

The State authorities experienced authorised the Director of Insurance plan, Andhra Pradesh, to get up additional ways in link with the institution of proposed APGIC.

The authorised share funds of the enterprise is pegged at ₹101 crore divided into ten.ten crore equity shares of ₹10 each.

Arguing in favour of the State developing its individual insurance plan scheme, a authorities formal pointed out that one particular-third of the kharif area in 2019 was not protected by any insurance plan. “We would like to saturate (address all farmers) with our scheme,” he mentioned.

The authorities designed it mandatory for farmers to register on their own on e-Karshak app (real-time crop registration window) in order to be eligible for the scheme. The Department of Agriculture will be the nodal agency for the implementation of the scheme.