New Insurance Scheme Introduced for Tuber and Vegetable Farmers

The Agricultural and Farmers Insurance Board has introduced a new insurance scheme to provide coverage for tuber and vegetable crops cultivated by farmers.

Under the scheme, several crops recommended by the Department of Agriculture will be covered, including cassava, sugarcane, potato, beetroot, courgette, carrot, leek, brinjal, okra, beans, curry leaves, tomato, bitter gourd, and pumpkin.

The Agricultural and Farmers Insurance Board stated that farmers can obtain insurance coverage by paying an installment amount equivalent to 7% of the basic insured value.

Through this insurance scheme, farmers will receive compensation for losses caused by natural disasters, uncontrollable plant diseases, insect attacks, and damage caused by wild elephants.

The Board said the main objective of the initiative is to encourage farmers to continue cultivation by helping them manage agricultural risks effectively and ensuring greater financial security.