Updated By: LatestGKGS Desk
Ministry of Agriculture Livestock Insurance Scheme for cattle
Central Government to give a huge subsidy on the insurance of cattle in 100 selected districts
The Livestock Insurance Scheme is Central Government sponsored scheme implemented on a pilot basis during 2005-06 and 2006-07 of the 10th Five Year Plan and 2007-08 of the 11th Five Year Plan in 100 selected districts.
The crossbred and high yielding cattle and buffaloes are being insured at a maximum of their current market price. The premium of the insurance is subsidized to the tune of 50%. The entire cost of the subsidy is being borne by the Central Government.
The benefit of subsidy is being provided to a maximum of 2 animals per beneficiary for a policy of a maximum of three years. The scheme is being implemented in all states except Goa through the State Livestock Development Boards of respective states.
The Chief Executive Officer of the State Livestock Development Board will also be the executive authority for this scheme. In those states where no such Boards are in place, the Director, Department of Animal Husbandry will be the Executive Authority of the scheme. The CEO will have to get the scheme implemented in various districts through the senior most officer of the Animal Husbandry Department in the district; the necessary instructions for this purpose will have to be issued by the State Government.
While selecting Insurance Company, besides premium rates offered, their capacity to provide services, terms and conditions, and service efficiency should also be taken in to account. The CEO will invite quotations in writing from those public and private general insurance companies having a fairly wide network in the state or a considerable part of the state.
