LIC to provide insurance to ryots of Telangana

HYDERABAD: Chief Minister K Chandrasekhar Rao on Tuesday directed agriculture principal secretary C Parthasarathi to have a detailed discussion with Life Insurance Corporation (LIC) representatives for fixing the premium rate and also finalise the modalities for the proposed farmers’ insurance scheme.

Rao, who held a review with the officials concerned on insurance scheme for farmers, said that the scheme to be implemented in the state would show the way to the whole farming community in the country. He also had a discussion on the central government’s insurance scheme for farmers under which the farmer has to pay the premium.

Rao felt that the state should go on its own in implementing the scheme free of cost to the farmer. “It is only the Telangana government that can understand the problems of farmers,” Rao claimed and said that the farming community’s problems should be addressed firmly by implementing a variety of schemes like the investment support scheme and insurance scheme.

KCR said that when a farmer died, the family should immediately get Rs 5 lakh insurance amount. “Any help that the government intends to do for the farmer will be done wholeheartedly. Whether the farmer is small, marginal or big the benefit of insurance will be the same and it will be a group insurance scheme,” he said.  

Due to its large network and being a Government of India undertaking, the LIC had the trust of the people, Rao said and asked the officials to entrust the responsibility of implementing the group insurance scheme to LIC. The premium amount would be allocated in the state budget and the premium payment was assured, he added.