Cabinet nod to livestock insurance scheme

Lucknow: The cabinet cleared the financial demands for the implementation of the CM Risk Management and Livestock Insurance Scheme. The state govt has set a budget provision of Rs 60 crore for the scheme in the current financial year.

The objective of the scheme is to protect farmers, livestock owners and dairy operators from financial losses arising due to the death of livestock or accidents.Livestock and dairy development minister, Dharampal Singh said that under the scheme, the govt will pay for 85% of the insurance premium. “If an animal dies for any reason or becomes permanently unfit for work, it has a serious impact on the financial condition of the livestock owner.

The state govt has approved this new scheme to protect them from such crises,” the minister said.Now small and marginal farmers, landless livestock owners, dairy farmers and other eligible livestock owners will be able to insure their animals. If an animal dies in an epidemic, due to a natural disaster or accident, or becomes unfit for use, the farmer will be able to claim insurance. In case an animal suffers permanent disability, the farmer will be able to claim up to 75% of the insured sum.

Funds will be transferred directly into the account of the farmer. Priority for insurance will also be given to animals that have benefited under various animal husbandry and dairy development schemes run by the state govt.The proposal presented to the cabinet on Monday sought a budget provision of Rs 60 crore for 2026-27, which was approved. The budget will be used to insure 2,28,350 animals in the state, of which 1,86,800 animals will be insured under the general component and 41,550 animals under the SCSP component.The central govt will pay 51% of the premium while the state govt will contribute 34%. The remaining will be borne by the farmer. The insurance company will ensure payment of the insurance amount within one month of the claim being filed.