Kathmandu. The Office of the Auditor General has pointed out the need to revise the grant policy to ensure the utilization of the subsidy of agricultural insurance.
In its 62nd annual report, the Auditor General has suggested formulating and implementing policies and laws to provide premium subsidy to small farmers and economically disadvantaged farmers on the basis of the demarcation of the sum assured per farmer family.
According to the Auditor General, the fiscal year 2070 through agricultural and livestock (including fisheries) insurance. 71 to 2080. The government has provided a grant of Rs 9.21 billion in insurance premiums up to 81. The study report of the Ministry of Agriculture has also confirmed that the utilization of this grant amount has not been ensured and the access has been misused.
A total sum insured of Rs 253.72 billion has been issued under agriculture and livestock insurance. The non-life insurer has earned a total of Rs 11.99 billion in insurance premium.
According to the Auditor General’s report, agricultural insurance claims stood at Rs 9.16 billion as of 2081 Ashadh.
According to the Auditor General, if farmers have 100 percent access to agricultural and livestock insurance, the current insurance subsidy amount is expected to increase by 25 times.
The Auditor General has suggested in the report that agriculture and livestock insurance is based on the policy of equality, so it seems that the policy of equality should be implemented by studying alternative measures.
