Government Allocates Rs 800 Million for Agricultural Insurance Claims

Kathmandu – The government has transferred Rs 800 million to the Nepal Insurance Authority to settle insurance claims for farmers involved in agricultural crop and livestock farming. This funding aims to provide relief to thousands of farmers who have insurance coverage under these sectors. Prime Minister KP Sharma Oli announced this during the winter session of the House of Representatives.

He addressed the positive progress in addressing long-standing issues in agriculture, economy, and infrastructure. Farmers in 35 districts have received payments within 100 days, while 75,000 sugarcane farmers have finally been compensated after years of delay.

Highlighting economic improvements, PM Oli revealed that revenue collection has increased by 13 percent, and the economy is on a positive trajectory compared to the previous year. He also noted significant progress in the NEPSE index, trade balance, foreign exchange reserves, and credit growth.

Addressing concerns of construction entrepreneurs, Oli confirmed that pending payments have been settled. “The government has taken all necessary measures to put the economy back on track,” he asserted.