Telangana Chief Minister K Chandrasekhar Rao announced an insurance scheme last week for Rs 5 lakh which would be implemented from June 2 in the state.
He directed the officials to finalize the modalities of the scheme and fix the insurance premium for the farmers by holding discussions with life insurance corporation officers.
In case of any untoward circumstance to the farmer, the amount would go to the immediate family members of the farmer.
KCR held a meeting with Ministers with Etela Rajender, G Jagadish Reddy, P Mahender Reddy, chief advisor Rajiv Sharma and Chief Secretary SK Joshi along with other officials of the agriculture department.
The Chief Minister instructed the officials to entrust the scheme implementation to Life Insurance Corporation (LIC) which has a wider network in the country and also the public faith.
He further added that the scheme would have necessary budgetary provisions to be made in the budget and hence the coverage amount would be an assured payment.
