70% subsidy on livestock insurance for cattle rearers

Livestock owners can avail of up to 70 per cent subsidy on livestock insurance under the National Livestock Mission. Kashmir Singh, Joint Director of Dairy Development, while attending a training session of farmers, said that cattle growers should periodically vaccinate animals to prevent diseases.

The official said that due to ailments such as foot-and-mouth disease, lumpy skin disease and goitre, the cattle often die. These deaths result in economic losses for small and medium dairy farmers. Although the government periodically vaccinates animals to prevent these diseases, it also provides insurance to help reduce the financial losses for farmers associated with livestock. The Dairy Development Department of Punjab is offering a 70 per cent subsidy for Scheduled Caste (SC) beneficiaries and a 50 per cent subsidy for beneficiaries in the General category on the insurance amount for buffaloes and cows under the National Livestock Mission Scheme.

Providing further details, Deputy Director, Dairy, Waryam Singh, stated that under the scheme, farmers can insure one to five animals. The price per cow has been set at Rs 70,000. Under the scheme, SC and ST farmers can obtain one-year insurance for Rs 672, two-year insurance for Rs 1,260, and three-year insurance for Rs 1,680 per animal. Farmers in the General category can avail of one-year insurance for Rs 1,120, two-year insurance for Rs 2,100, and three-year insurance for Rs 2,800 per animal.

The benefit of this scheme can be taken by any milk producer, whether or not they have taken a dairy loan from a bank or part of the Kisan Credit Card Scheme. One who is directly engaged in dairy activities, can avail themselves of the scheme.