The Agricultural and Agrarian Insurance Board has introduced a new insurance scheme to cover paddy cultivation in seed paddy production farms, following repeated requests from farmers.
Under the scheme, seed paddy cultivations will be insured against damages caused by floods, droughts, diseases, pest attacks, natural disasters, and wild elephant incursions. Farmers will be eligible to receive compensation of up to Rs. 180,000 per acre by paying a premium of Rs. 13,600 per season for one acre.
According to the Board, registration with the Seed Certification Service of the Department of Agriculture is mandatory to qualify for this insurance coverage.
The initiative aims to promote seed paddy production and encourage farmers to continue cultivation despite growing risks from climate and environmental challenges.
