Karnataka may start own crop insurance scheme

Karnataka Government is proposing to start its own crop insurance scheme. “There are apprehensions that the policy being implemented by the Centre is not beneficial to farmers as we feel that the parameters adopted to assess crop losses are complicated and the claims process is also delayed,” said NH Shivshankar Reddy, Karnataka Agriculture Minister. Some of the claims for the 2016-17 cropping season estimated at around Rs. 150 crore are still pending.

“We are examining the scheme adopted by Bihar and also studying the financial implications of having our own crop insurance scheme,” Reddy said. The state has budgeted Rs. 845 crore towards crop insurance premiums. Bihar had launched its own crop insurance scheme during the kharif season this year to compensate farmers better.

Karnataka, which is reeling under drought due to a weak southwest monsoon, has pegged the crop losses at Rs. 16,662 crore. The State has sought assistance to the tune of Rs. 2,434 crore from the Centre under the National Disaster Relief Fund.

Reddy said crops such as maize, groundnut, jowar and pulses have suffered damages on account of the rain deficit.