Five years of Rythu Beema - Rs 5,402 Cr financial assistance provided to the farmers

Hyderabad: A whopping Rs 5,402 crore in financial assistance was provided to the families of farmers, who had tragically lost their lives under various circumstances as Rythu Beema scheme marks the fifth anniversary on Tuesday.

The Finance Minister T Harish Rao shared this information on his twitter account. Harish Rao said that Tuesday marks the fifth anniversary of the Rythu Bima Scheme, a visionary initiative launched by Chief Minister K Chandrashekar Rao on August 15, 2018. This scheme underlines governments unwavering dedication to supporting our farming community by extending crucial financial aid to the families of farmers during challenging times.

Harish Rao said that the Rythu Beema Scheme stands as a symbol of governments deep commitment to farmers. Through this program, the Telangana government covers the premium payments to LIC on behalf of eligible farmers, ensuring that their families receive a substantial amount of Rs  5 lakhs in case of their unfortunate demise. This initiative reflects profound respect for the invaluable contribution of our farmers and our steadfast resolve to stand by them, the Minister said.

The Minister said that the scheme's reception was overwhelming. In its inaugural year of 2018-19, the registrations were from 31.25 lakh farmers. Over time, this number has grown remarkably, with a staggering 41.04 lakh farmers enrolling in the scheme by 2023-24. The financial facet of the scheme has also evolved significantly.

Starting with a premium payment of Rs 602 crores in 2018, it has now grown to an impressive Rs 1,477 crores. This growth exemplifies the scheme’s increasing popularity and impact, showcasing governments ongoing efforts to broaden its reach, said Harish Rao adding, till date, an impressive Rs 6,861 crores was disbursed as premium payments on behalf of dedicated farming community and provided Rs 5,402 crore in financial assistance to families of farmers who have tragically lost their lives under various circumstances.

“I extend my heartfelt gratitude to Chief Minister KCR, a true friend of farmers, for conceiving this remarkable scheme. The Rythu Bima Scheme transcends being just an insurance program. It's a lifeline for our farmers and their families. It underscores Telangana’s unwavering dedication to theirwell-being and our ceaseless pursuit of their prosperity,” said Rao.