Farmers will receive a 50% subsidy from the government when insuring farms and livestock from Shrawan, 2078 BS. Farmers formerly received a 75 percent discount for agriculture and animal insurance. The government will now grant a 50% subsidy beginning Shrawan 1, 2078 BS.
When insuring livestock and agriculture, most non-life insurance firms charge a premium of 5% of the sum covered. If a farmer insures Rs 100,000 in total, the insurance premium is Rs 5,000. The government will pay half of the total insurance premium, or Rs 2,500, as a subsidy. As a result, the farmer has pay Rs 2,500 of the premium amount.