Harish Rao commemorates five years of Rythu Bima Scheme as lifesaver for farmers
The financial facet of the scheme has also evolved significantly, starting from a premium payment of Rs 602 crore in 2018 to an impressive Rs 1,477 crore now
- Telangana
NewsTAP Bureau- Updated On:15 Aug 2023 12:23 PM GMT
Hyderabad: August 15, 2023 marks the fifth anniversary of the Rythu Bima Scheme, an initiative launched by Chief Minister K Chandrashekar Rao. The highlight of the scheme is to support the farming community by extending crucial financial aid to the families of farmers during challenging times.
Through this programme, the Telangana Government covers premium payments to LIC on behalf of eligible farmers, ensuring that their families receive a substantial amount of Rs 5 lakh in case of their unfortunate demise. From its inception in 2018-19 with registrations from 31.25 lakh farmers, the scheme's impact has grown remarkably, with an astounding 41.04 lakh farmers enrolling by 2023-24.
The financial facet of the scheme has also evolved significantly, starting from a premium payment of Rs 602 crore in 2018 to an impressive Rs 1,477 crore now. This growth exemplifies the scheme’s increasing popularity and impact, showcasing Finance Minister Harish Rao's ongoing efforts to broaden its reach.
To date, Harish Rao has disbursed a substantial Rs 6,861 crore as premium payments on behalf of our dedicated farming community. Additionally, Rs 5,402 crore in financial assistance has been provided to families of farmers who tragically lost their lives under various circumstances.
A standout feature of the Rythu Bima Scheme has been its inclusivity. Finance Minister Harish Rao acknowledged that a farmer's identity was not solely tied to land ownership. Regardless of landholding, any farmer was eligible for benefits as long as they were recognised as such. This assurance ensured that in the unfortunate event of a farmer's passing away, their family was supported.
Finance Minister Harish Rao extended heartfelt gratitude to KCR for conceiving this remarkable scheme. "The Rythu Bima Scheme transcends being just an insurance programme; it's a lifeline for our farmers and their families. It underscores Telangana’s unwavering dedication to their well-being," tweeted Harish Rao.
