Srinagar: The PWD department has been advised to inspect and valuate them so that LOIs/ EOIs are invited. Since rules in vogue at present do not allow insurance of public assets and Government vehicles, it is intended to take up insurance of these assets in a phased manner and as per availability of resources.
Finance minister Haseeb Drabu on Wednesday said that the state has worked out a comprehensive insurance scheme for nine crops and asked the government depatments to submit inventioners of machinery and equipments so they are insured.
Despite the spate of natural calamities in the past and recurring violent civil strife that we are faced with, the state has neither insured its own assets nor has it been able to give insurance cover to private businesses, be it in agriculture, horticulture, other crops or to SMEs, said Drabu in the legislature.
I am happy to inform that we have succeeded in working out a comprehensive insurance scheme for nine crops including paddy, wheat, maize, apple, mango, saffron, pulses, and oil seeds against damages from most of the natural disasters including hail, floods, draught etc. Additionally, in order to provide the much needed fillip to the poultry sector, I intend to subsidise the premium costs on account of insurance of livestock by the poultry farmers.
I have made a provision of Rs. 75 crore in the budget for the purpose of premium subsidy. This is the biggest intervention till date to ensure that the farmers get right compensation if their crops are damaged due to reasons beyond their control
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