Odisha Government Announces Free Crop Insurance for Farmers for 3 Years

By offering free crop insurance, the Odisha government aims to alleviate the burden of premium payments from farmers and provide them with a safety net during challenging times. This initiative is expected to empower farmers and strengthen the agricultural sector in the state.

The Odisha government has taken a significant step towards supporting its farming community by announcing the provision of free crop insurance to all farmers in the state for the next three years. Cooperation Minister Atanu Sabyasachi Nayak made this announcement after a review of his department by Chief Minister Naveen Patnaik.

From the 2023 Kharif season to the 2025-26 Rabi season, the Cooperation Department will bear the premium of crop insurance, making Odisha the first state in the country to offer free crop insurance to farmers. This initiative aims to provide financial security and protection to farmers against crop losses caused by natural calamities or other unforeseen circumstances.

The government's focus on enhancing access to credit through increased loan limits and the formation of new PACS reflects its dedication to facilitating the financial well-being of farmers. These measures will contribute to the growth of the agricultural sector and improve the livelihoods of farmers across Odisha.

In addition to the free crop insurance, the Cooperation Department has been actively providing short-term agriculture loans to farmers at low-interest rates. Fulfilling their election promise, the state government has increased the cap on interest-free loans from Rs 50,000 to Rs 1 lakh. This move has been instrumental in supporting more than 7 lakh small and marginal farmers, who have received loans totalling Rs 16,683.57 crore during the 2022-23 financial year, according to Minister Nayak.

Furthermore, to enhance access to credit for farmers, the government has formed 1,451 new Primary Agricultural Cooperative Societies (PACS). These societies will play a crucial role in extending short-term loans to farmers, ensuring that they have the necessary financial resources to carry out their agricultural activities effectively.

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The provision of free crop insurance and increased access to interest-free loans demonstrate the government's commitment to the welfare of farmers in Odisha. These initiatives aim to mitigate the risks faced by farmers and provide them with the necessary support to sustain their livelihoods in the face of adversity.

With the implementation of these initiatives, the Odisha government aims to foster a supportive environment for farmers, ensuring their prosperity and contributing to the overall development of the state's agricultural landscape.

-With PTI Inputs

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