In a major relief to farmers in Maharashtra, the state government has announced a direct transfer of Rs2,555 crore as crop insurance compensation to 64 lakh farmers. The government has approved the disbursement of Rs2,852 crore as a pending state share subsidy to insurance companies.
This move will ensure that compensation from various past agricultural seasons is directly credited to farmers’ Aadhaar-linked bank accounts. The insurance companies have been instructed to expedite the process, ensuring timely benefits to the farmers, according to agriculture minister Manikrao Kokate.
Under this initiative, compensation will be distributed for the Kharif year 2022 and Rabi 2022-23: Rs287 crore, Kharif 2023: Rs181 crore, Rabi 2023-24: Rs63.14 crore, Kharif 2024: Rs2,308 crore
A total of Rs2,555 crore will be transferred to eligible farmers, offering much-needed financial relief. The government has already allocated funds to insurance companies, ensuring that farmers receive their compensation without delay.
“This decision will provide a significant relief to farmers across the state,” said Kokate.
