Kathmandu: The federal government continues the subsidy for agriculture and live stock insurance.
Announcing the budget for the upcoming fiscal year, Finance Minister Janardan Sharma has given continuity to the arrangement that the government will bear the insurance premium of agricultural insurance by 80 percent.
In the budget of the current fiscal year, the then Finance Minister Bishnu Prasad Poudel had reduced it from 75 percent to 50 percent. While revising the budget in mid term, newly appointed Finance Minister Sharma had increased the rate from 50 percent to 80 percent. The government has allocated Rs. 760 million for agricultural insurance.
Sharma said that Rs. 81 crore has been allocated for the payment of sugarcane farmers. The budget has allocated Rs. 55.97 billion to the Ministry of Agriculture.