A new insurance scheme for fruit cultivation has been introduced by the Agricultural and Agrarian Insurance Board to safeguard farmers against risks affecting their crops.
The programme covers pineapple, papaya, banana and other crops recommended by the Department of Agriculture.
Farmers can obtain coverage by paying only about 7% of the basic insured amount as a premium, with protection extended against natural disasters, diseases, pests, insect damage, and harm caused by wild elephants.
In the event of damage, compensation ranging from Rs. 300,000 to Rs. 400,000 per acre will be provided.
According to the Agricultural and Agrarian Insurance Board, the primary aim of the scheme is to help farmers remain engaged in cultivation by effectively managing risk. (Newswire)