Fertilizer Compensation for Kharif 2023 to Be Deposited in Farmers’ Accounts in 6 Districts Including Nashik – Agriculture Minister Dhananjay Munde

Mumbai : Agriculture Minister Dhananjay Munde announced that under the ‘All-Inclusive Crop Insurance Scheme,’ the state government has authorized Oriental Insurance Company to disburse compensation for the losses incurred during the Kharif season of 2023. As a result, farmers from Nashik, Jalgaon, and four other districts will soon receive ₹1927 crore in compensation for their losses.

The Crop Insurance Scheme is implemented based on a threshold pattern. This means that wherever losses exceed 110% of the insured crop value, the insurance company compensates up to 110%, while the remaining losses are covered by the state government.

Of the ₹7,621 crore sanctioned for the Kharif season of 2023, ₹5,469 crore has already been deposited in the accounts of affected farmers through the insurance company.

The remaining compensation of ₹1927 crore is still pending. The government has approved the distribution of this amount, and a government decision is expected to be issued on September 30, 2024.

Efforts are underway to deposit the remaining amount directly into farmers’ accounts via Oriental General Insurance Company, Minister Shri Munde informed. Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, and Agriculture Minister Dhananjay Munde have expressed their gratitude for this initiative.

Farmers in the following districts will receive compensation: Nashik ₹656 crore, Jalgaon ₹470 crore, Ahmednagar ₹713 crore, Solapur ₹2.66 crore, Satara ₹27.73 crore, and Chandrapur ₹58.90 crore.