Nepal Breaking NewsBusinessFrom Shrawan, the government would provide a 50% subsidy in agriculture and...

From Shrawan, the government would provide a 50% subsidy in agriculture and livestock insurance

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Farmers receive a 50% 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 Shrawan 1, 2078 BS.

Outgoing Finance Minister lowered the government’s subsidy for agriculture and animal insurance by 25% in his budget for the current fiscal year 2078/79.

When insuring livestock and agriculture, most non-life insurance firms a premium of 5% of the sum covered. If a farmer insures Rs 100,000 in , 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 pay Rs 2,500 of the premium amount.

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