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Insurance for cash crops
Special Correspondent
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Products to be designed for tea and rubber
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NEW DELHI:
Cash crops will now be given insurance cover, with plans being made by Agriculture Insurance Company of India (AIC) to launch exclusive products for tea, rubber and sugarcane this year.
This was disclosed here on Thursday by the AIC's Chairman-cum-Managing Director, Suparas Bhandari, after the launch of Varsha Bima-2005 by the Union Finance Minister, P. Chidambaram.
Mr. Bhandari said work was being carried out to launch a dedicated insurance scheme for cotton. This, he said, was expected to come into existence by next year.
The company had already launched a coffee insurance scheme in March.
In the Varsha Bima-2005 crop insurance scheme, he said it aimed to insure the kharif crop against rainfall deviations from the normal in ten States.
The crop insurance cover under the scheme would be available till June 15 for "Sowing Failure'' and till June 30 for other options in 140 districts in Andhra Pradesh, Karnataka, Chattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Orissa, Tamil Nadu, Uttaranchal and Uttar Pradesh.
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