The Odisha government on Monday announced that it will provide free crop insurance to all farmers in the state for the next three years.
Cooperation Minister Atanu Sabyasachi Nayak made the announcement after a review of his department by Chief Minister Naveen Patnaik.
As many as 1,451 new Primary Agricultural Co-operative Societies (PACS) have been formed to further extend short-term loans to the farmers
The Department would bear the premium of the insurance from the 2023 Kharif season to the 2025-26 Rabi season. Short terms agriculture loans are being provided at low interest rates to the farmers.
Furthermore, the state government has increased the interest-free loan cap from Rs 50,000 to Rs 1 lakh. Under the scheme, more than 7 lakh small and marginal farmers have been provided loans, amounting to Rs 16,683.57 crore during the 2022-23 financial year, the Minister informed.
