The Telangana government today issued orders extending the Rythu Bhima scheme for 2019-20 to help the kin of farmers who die in the State.
With this, a farmer's family will get financial assistance from the government of Rs 5 lakh upon his death.
There are some 31.10 lakh farmers across the State, and the government has earmarked Rs 934.19 crore for implementation of the scheme.
The scheme will be effective from August 14 this year to August 13 next year. Chief Minister KCR had launched the scheme on August 15 last year.
On behalf of the government, the LIC will provide Rs 5 lakh to the kin or nominee of the farmer, in 10 days after death.
The scheme was launched with the objective of providing financial relief and security to the family members/dependents of a farmer in case of his death. In Telangana, the majority of the farmers are small and marginal, and farming is the sole source of livelihood to them. In the event of the death of the farmer / bread winner, his family faces severe financial problems even for its day-to-day needs. Rythu Bhima ensures some compensation to the bereaved members of the farmer's family.
The LIC informed that it is proposing cost-based pricing and not profit-based pricing, and that the cost per farmer will be: