An illustrative study of Restructured Weather Based Horticulture Insurance Scheme

An illustrative study of Restructured Weather Based Horticulture Insurance Scheme

The Maharashtra state government has introduced the Restructured Weather-Based Horticulture Insurance Scheme for helping the state’s farmers. As the state’s agriculture is badly hit on account of hailstorm and rain, the scheme benefits shall help them. For this, the online registration application is invited online from the farmers. Below are mentioned some essential information about the entitled scheme.

Launch details of the scheme

Name of scheme	Restructured Weather Based Horticulture Insurance Scheme
Target group of scheme	Poor farmers of the state
Main objective of the scheme	Offer financial support to farmers who have suffered a loss in farming produce due to rain and hailstorm
Scheme launched in	Maharashtra
Scheme announced by	Maharashtra state government
Date of scheme launch	6^th June 2020
Insurance amount to be paid	Only five percent need to be paid by farmers whereas the rest 95% will be cleared both by central and state government
Last date for applying under the scheme	30^th June 2020 for chikku and sweet lime 20^th June for orange 14^th for guava 14^th July for pomegranate
Online registration has been announced by	State Agriculture Minister Dadasaheb Bhuse

What are the highlighting features of the scheme?

Main objective of the scheme – The main focus of the scheme launch is to offer financial help to the needy families as the agricultural produce is hit hard on account of rain and hailstorm.
Target group of the scheme – The agricultural farmers are the target group under the scheme.
Cultivation of fruits in different districts– The state has facilitated the cultivation of oranges, sweet lime, pomegranate, guava, lemon and chikku in 18 different districts. Also, it allowed the cultivation of grapes, bananas, mango, cashew, orange, sweet line, and pomegranate in 23 districts as per the guidelines mentioned by the agriculture department of the state.
Financial assistance for farmers – As per the scheme rules, the farmers have to pay only five percent of the loan whereas the rest will be shared both by the central and state government. This shall help the farmers to lead a secured life.
Insurance company to be selected – The HDFC Ergo General Insurance Company will work for different districts as a certified insurance company. Besides, Bajaj Allianz general and Bharatiya Krishi Bima Company have been selected for other districts.

What are the eligibility criteria for the scheme?

Residential details – The central government has introduced the scheme, and therefore, only the permanent residents of India states are eligible to avail of the benefits.
Income details – Certain income limit should be produced at the time of online registration based on which the authorities can decide for the eligibility of the candidate.
Details of farming land – The farmers interested to avail of the benefits of the scheme need to offer the details of farming land. Also, they should detail the crops that cultivate.
Bank account – By producing the details of the bank account, it will help get the insurance premium amount. However, they have to give only five percent of the premium of insurance. The rest of the portion will be given by the state and central government.

Documents required for registration

Residential documents – Candidates should furnish permanent documents at the time of registration to justify their being the permanent residents of India.
Identification proof – As proper identification, the citizens should furnish Aadhaar card, voter ID card, and the like at the time of registration.
Income certificate – By going through the income certificate, it will help determine whether the person is eligible to benefit from the above-said scheme.
Bank details – The farmers have to furnish bank account details, IFSC code, branch name and the account should be an active one linked with Aadhaar card. This shall help them get the insurance premium for which they have opted.

Insurance companies helping farmers of different districts

Insurance company	Districts
HDFC Ergo General Insurance Company	Ahmednagar, Sindhudurg, Nashik, Amravati, Washim, Yavatmal, Parbhani, Jalna, Satara, Latur and Kolhapur
Bajaj Allianz General Insurance Company	Raigad, Pune, Buldhana, Jalgaon, Nanded, and Osmanabad districts
Bharatiya Krishi Bima Company	Dhule, Palghar, Ratnagiri, Nagpur, Solapur and Nandurbar

Details of online application procedure of scheme

For the correct registration, the farmers can get suitable help from local agriculture centers. However, the state has advised the farmers not to wait for the last date of registration under the scheme and instead opt for it at the earliest and get the suitable benefits. As soon as the portal is launched, the interested candidates can get information through it. However, the state government is yet to come up with the portal of the insurance scheme.

The above-said crop loan is available for the ones with existing loans and the farmers who wish to get new loans for different agricultural needs.