Press briefing of Cabinet Decision taken on 2017-09-26

Implementing a formal Agricultural Insurance Scheme

- Taking into consideration the difficulties faced by the farming community in recovering the damages caused to the agricultural crops due to the natural disasters, a proposal was made by the budget 2017 to implement a methodology for providing an insurance cover of Rs.40,000/- per acre initially for the 6 of crops of paddy, maize, soya, big onions, potatoes and chilli. Accordingly, the proposal made by Hon. Duminda Dissanayake, the Minister of Agriculture, to put forward a suitable mechanism in collaboration with the National Insurance Trust Fund in order to to implement the said insurance scheme, was approved by the Cabinet.