Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDIA

Madhya Pradesh Govt Plans to Pay Insurance Premiums for Small Farmers

These proposals aim to address lending disparities in agriculture, improve credit accessibility, and incorporate value-chain financing.

The state government plans to cover crop insurance premiums for smallholder farmers, given the impact of unseasonable rain and hail this year.

According to officials, the government is working on an insurance roadmap for farmers with 2 hectares or less of arable land. This will cost the state coffers Rs 25-30 crore.

Agriculture Minister Kamal Patel said, “Many farmers have small cultivation areas and cannot afford insurance. The department is preparing a roadmap to help them. Talks have been held with Chief Minister Shivraj Singh Chouhan on this. The government is planning to pay their Premium.”

Bharatiya Kisan Union State President Anil Yadav has not accepted these promises.

“We don’t trust the government. The old insurance has not paid the farmers yet. The question is, why is the government treating the insurance companies so well? Instead of paying the premiums for small farmers, why not provide them with financial help directly,” he asked.

Madhya Pradesh has over 10 million farmers, including small and marginal farmers. Small farmers with 1-2 acres of land accounted for 27.15% of the total, while 48.3% of marginal farmers have areas up to 1 hectare.

Get Daily Prediction & Stocks Tips On Your Mobile