Chennai: Tamilnadu Chief Minister M K Stalin today started the distribution of insurance amount of Rs 1,597.18 crore to six lakh farmers for the Samba crops loss.
An official press release here said that Rs 2,237 crore was allotted in the 2021-22 Agriculture budget to implement the crop insurance scheme.
‘Out of this 1,553.15 crore was given as subsidy to banks. Due to this, now the insurance amount of Rs 1,597 crore is being distributed. Out of this Rs 1,089.53 crore is given by IFFCO-Tokio and Rs 507.65 crore by Agriculture Insurance Company of India,’ the release said.
It also said that farmers have also started to pay their premium from 15 September for 2021-2022 insurance.
‘As on 13 October, 6,1871 farmers have registered in the insurance scheme. Those who have not registered yet are requested to do it at the earliest,’ the release added.