Animal Husbandry, Insurance departments ink MoU for livestock insurance scheme

The Animal Husbandry Department is providing insurance coverage to 50,000 cows and the dairy farmers who own them through the Gosamrudhi-NLM 2024-25 insurance scheme. The department is implementing the livestock insurance scheme in collaboration with the State Insurance Department through the United India Insurance Company.

The Animal Husbandry Department and the State Insurance Department signed an agreement on Wednesday in the presence of Finance Minister K.N. Balagopal and Animal Husbandry Minister J. Chinchurani.

Under the scheme, a 50% government subsidy will be available in the general category for cattle costing up to ₹65,000, and 70% for SC/ST categories. The dairy farmer in the general category will be eligible for ₹1,456, which is 50% of the premium for one-year coverage. The dairy farmer in the SC/ST categories will be eligible for ₹2,038, or 70% of the premium amount. For the three-year insurance term, the amounts will be respectively ₹3,568 and ₹4,995, the Animal Husbandry Department said in a statement.

Published – October 30, 2024 11:31 pm IST

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