Tripura rolls out insurance scheme for livestock to support farmers
Animal resource development (ARD) minister Sudhangshu Das said the mission, Complete Animal Wealth Shield, is expected to extend crucial support to the farmers whose livelihood depends on cattle, goats, sheep and pigs.
Das said livestock rearing plays a vital role in the rural economy but has long been neglected and there has not been much work done for the development of the sector. The mission has been designed to empower livestock farmers and ensure their economic security.
Under the mission, full compensation is provided in the event of animal loss, unlike the existing cap of Rs 20,000. The beneficiaries will contribute just 15 per cent of the insurance premium, with the central and state govts covering 70 per cent and 15 per cent, respectively.
"The premium varies with the policy term — 3.39% for one year, 6.6% for two years and 8.3% for three years. A family can insure up to 10 livestock units.
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For calculation, one cow or buffalo equals one unit, while ten goats or sheep or five pigs are considered as one unit," Das said.
The insured value is calculated based on milk output or market value. Currently, the cost is estimated at Rs 3,000 per litre of milk for cows and Rs 4,000 per litre for buffaloes, or as assessed by a govt veterinarian. Insurance coverage applies in case of accidental or disease-related death, though claims for non-accidental deaths are only valid if the death occurs 21 days after the enrolment, he said.
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