Insurance scheme for paddy begins in Haryana

The Haryana government today selected Ambala Block-II for insurance of the paddy crop under its Crop Insurance Scheme.

“The scheme has been made mandatory for all farmers taking loans, while still being optional for the others,” a government official said.

During the rabi season, 5,585 acres of Ambala Block-II was insured by ICICI Lombard Insurance Company. The farmers paid a premium of Rs 248 an acre, against a total of Rs 1,158 per acre. The balance amount was shared between the central and state governments, the official added.

Lombard has been nominated to implement the scheme across the kharif season, too. The crop will be covered for rain, both excess and scanty, and drought. The total premium has been set for Rs 1,324 an acre. But, like the rabi season, the farmers would be expected to pay only Rs 331 an acre, while the balance would be shared by the governments.

Other banks that participated in the scheme include Central Cooperative Bank (Ambala), Punjab National Bank, Haryana Rural Bank, State Bank of India (Babyal), Canara Bank (Panjokhara), among others.