Mumbai – The Maharashtra government has approved Rs 2,555 crore in crop insurance compensation for 64 lakh farmers, ensuring direct deposits into their Aadhaar-linked bank accounts; this will be a great relief for the 64 Lakh farmers of the state. The government has also approved the distribution of Rs 2,852 crore as the pending state share of the subsidy to insurance companies. This decision ensures that outstanding compensation from previous seasons will be transferred promptly to farmers’ Aadhaar-linked bank accounts. The insurance companies have been instructed to expedite the process, ensuring direct benefits reach the farmers at the earliest, stated Maharashtra’s Agriculture Minister, Manikrao Kokate .
Under this initiative, insurance payouts will be disbursed for losses incurred during various cropping seasons: Kharif 2022 and Rabi 2022-23: Rs 2crores 87 lakh, Kharif 2023: Rs 181 crore, Rabi 2023-24: Rs 63 crore 14 lakh, and Kharif 2024: Rs 2,308 crore. A total amount of Rs 2,555 crore will be distributed among 64 lakh beneficiary farmers across the state.
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