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TN farmers to get insurance claims worth Rs 928 crore

A total of 2.92 lakh farmers who were affected by water scarcity when raising samba will benefit to the tune of Rs 928.12 crore from three insurance companies, an official release stated.

TN farmers to get insurance claims worth Rs 928 crore
File photo of Farmers


Funds for other affected crops would also be released by the private ICICI Lombard insurance company and the Central government’s Agriculture Insurance Company of India and New India Assurance companies, it said. 

Meanwhile, the companies released Rs.888 crore in June this year as the second instalment toward crop insurance for affected samba crop in 10 districts last year. 

This includes Rs 489 crore for Tiruvarur farmers, Rs 355 crore for Ramanathapuram farmers, Rs 20 crore for Tiruchy district and another Rs 24 crore for affected farmers in Ariyalur, Dindigul, Erode, Kanniyakumari, Karur, Madurai, Namakkal, Perambalur and Coimbatore districts. 

The work of depositing the money in farmers individual bank accounts has already begun. A sum of Rs 40 crore has been deposited till June 20, it added. To ensure timely and prompt payment by insurance companies, the state government had till date handed over Rs 428 crore as its share, the  release averred. 

The state government had till date sanctioned Rs 2247 crore to farmers toward farm input from the national disaster relief fund.

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