Rajasthan government has announced to raise the insurance amount by one lakh for farmers. Nearly 7 lakh farmers who have availed crop loan through cooperative banks in Rajasthan will get an insurance cover of Rs 6 lakh by giving only Rs 27 as yearly premium.
In a statement, a State Minister said, “Rajasthan government has raised the insurance amount by one lakh in the present fiscal year in the Raj Sahakar personal accident insurance scheme targeted to cover more than 25 lakh farmers”.
Last year, the insurance amount was Rs 5 lakh and around 23 lakh farmers were covered with the insurance.
Cooperative Minister of Rajasthan, Ajay Singh Kilak said, “Rajasthan is the first state in the country which is providing high insurance cover in very nominal premium. We target to cover more than 25 lakh farmers with the scheme this financial year”.
While the farmer will give Rs 27, Central Cooperative Bank and the Rajasthan State Cooperative Bank will give Rs 13.50 each as the premium to their cooperative insurance company.
He added, “The cooperative department is taking all decisions and steps for the welfare of farmers and to ensure that income of farmers gets doubled by the year 2022. We have ensured social security for crop loan borrowers and we are getting encouraging feedback from them”.