Government Provides Subsidy on Agricultural and Livestock Insurance Premiums
Summary
The government is providing up to 80 percent subsidies on agricultural, livestock and herbal insurance premiums to reduce farmers’ losses from natural disasters and diseases. A new procedure has shifted management to provincial governments and allocates NPR 36 million to Sudurpashchim Province this fiscal year.
Key Points
- The government is offering up to 80 percent subsidy on insurance premiums for agriculture and livestock, with 50 percent support above NPR 10 million insured amount.
- A new procedure implemented from August 17 shifts management responsibilities to provincial governments and uses the Agricultural and Livestock Insurance System (ALIS) for policy issuance.
- Sudurpashchim Province has received NPR 36 million in federal funding for premium subsidies this fiscal year.
- Farmers can insure a wide range of crops, herbs, livestock, and poultry, and insurance companies have been assigned district-wise responsibilities in Sudurpashchim.
