Rs 644 crores for National Agriculture Insurance Scheme

Finance Minister Shri P. Chidambaram announced Rs. 644 crores for the National Agriculture Insurance Scheme (NAIS). Presenting the Union Budget 2008-09 in Lok Sabha today he said the scheme will continue in its present form for Kharif and Rabi.

The Minister announced that 50 crores will be allocated to Weather Based Crop Insurance Scheme that is being implemented as a pilot scheme in selected areas of five States. He said Government will continue to provide fertilizers to farmers at subsidized prices. Government is examining proposals to move to a nutrient based subsidy regime and alternative methods of delivering the subsidy.

The Special Purpose Tea Fund set up last year for re-plantation ad rejuvenation will be provided Rs. 40 crore. Similar funds will be provided to support other plantation crops such as cardamom with an outlay of Rs. 10.68 crores, rubber with Rs. 19.41 crores and coffee with Rs. 18 crores.

Source : Press Information Bureau

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