Telangana sanctions ₹1,173 crore for Rythu Bima

The Telangana government has released ₹1,173.54 crore towards premium for the Rythu Bima insurance scheme.

The amount will be paid to Life Insurance Corporation (LIC), which has been managing the scheme ever since it was launched two years ago.

As many as 32.73 lakh farmers aged between 18 and 59 years are eligible for the scheme. The kin of a deceased farmer will get ₹5 lakh each under the scheme.

As many as 32,267 families have benefited so far in the last two years. They received an aggregate ₹1,613.35 crore in insurance claims, Telangana Agriculture Minister S Niranjan Reddy has said.

The scheme will be in force from August 14, 2020, to August 13, 2021. The LIC is in the process of evaluating 1,800 claims with a likely outgo of ₹90 crore.

Source: The Hindu Business Line