Hyderabad: In another big budget scheme aimed at grabbing the mass attention, Telangana Chief Minister K Chandrashekhar Rao on Friday announced life insurance worth Rs 5 lakh for all farmers in the state.
According to the Telangana government, the scheme will commence on August 15.
All farmers in the age group of 18 to 59 years will be provided with the insurance and the government promises to pay the entire premium amount under this scheme.
Telangana CM K Chandrashekhar Rao said, "Irrespective of the reasons due to which a farmer dies, including natural death, the insured amount of Rs 5 lakhs shall be paid to the nominee proposed by the insured farmer within ten days of the claim. The idea behind this is to come to the rescue of the deceased’s family."
“The small and marginal farmers in Telangana account for 93%. There are 18 lakh farmers whose holdings are less than one acre. Their livelihood is entirely agriculture and farming and for any reason when the farmer dies, his family will have to face lot of hardships. This is just another step forward by the government,” the chief minister added.
The Telangana administration has tied up with the government-run Life Insurance Corporation of India for the implementation of the scheme.
The LIC will provide the insurance certificate to every farmer insured under this scheme. On behalf of the farmers, the government will pay the premium to LIC, for which there will be a budgetary allocation every year.
"This is first time in history that Rs 5 lakh is the insured amount under a group insurance. It is also a record that several lakhs of farmers are members in the scheme. This has never happened in the history of insurance companies in the country. The group insurance scheme to the farmer of Telangana is a record of its own,” the CMO said in a release.
On May 10, the Telangana government launched its flagship "Rythu Bandhu Scheme" and distributed cheques worth Rs 4000. Under the welfare scheme, the government promises Rs 4000 per acre to each farmer for their monsoon crop and another Rs 4000 per acre for their summer crop as input subsidy.
The scheme is expected to benefit nearly 58 lakh farmers in the state.
Eyeing a national political role in future, Chief Minister K Chandrashekhar Rao is aiming to grab the nation's attention with its farmer-friendly policies. Not just this, with state assembly elections scheduled for 2019, the various welfare schemes for the farmers are being seen as a game-changer for the ruling TRS.
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