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Telangana launches life insurance scheme worth Rs 5 lakh for farmers

Aug 7, 2018 15:28 IST
Telangana launches life insurance scheme worth Rs 5 lakh for farmers

The state government of Telangana on August 6, 2018 launched the first-of-its-kind life insurance programme worth Rs 5 lakh for the farmers in the state.

The scheme, which is called Rythu Bandhu Life Insurance Bonds, is expected to benefit 2.8 million farmers and their families. The launch comes ahead of the 2019 state and parliamentary elections.

Key Highlights  

Under the programme, the families of the farmers will get the insurance amount irrespective of whether the farmer’s death is natural or accidental.

The insurance amount will be given to the farmer’s family within 10 days itself.

The distribution of insurance papers to the farmers would begin from August 15.

The scheme has been launched with a rough investment of Rs 650 crore.

During the launch, Telangana agriculture minister Pocharam Srinivas distributed the life insurance bonds to farmers in Kamareddy district. Officials from the agriculture department took up distribution in other parts of the state.

Most of the bonds are expected to be given to farmers by September 15.

Drawbacks

Despite its many benefits, the scheme is limited to farmers aged between 18 and 60 years.

It is also limited to only those landowners who received the monetary assistance of Rs 4000 from the state government to bear farming costs under the ‘Rythu Bandhu’ programme earlier this year.

The tenant farmers, who have been demanding to be added under the scheme ever since it was introduced, have been left out of it.

According to Telangana Chief Minister K Chandrashekar Rao, the tenant farmers are not included in the scheme because they cannot be verified and they have no rights over the lands.

Overall, the scheme will be continuous, as eligible farmers will be added and those who become ineligible (after crossing 60 years) will be removed from it.

Background

The state government had earlier distributed cheques worth Rs 4000 under the Rythu Bandhu programme to about 5.8 million land-holding farmers to bear farming costs such as the purchase of fertilisers and seeds.

 

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