The scheme, announced at the initiative of Chief Minister Vasundhara Raje, is probably the first ever personal insurance scheme for dairy farmers in the country, according to Rajasthan Cooperative Minister Ajay Singh.
Women and SC/ST category beneficiaries will have to pay a premium of Rs 20.25 annually, while the premium for general category dairy farmers will be Rs 24.30, he said.
The state government has signed an MoU with United India Insurance Company Ltd for the 'Raj Saras Suraksha Kavach Bima Yojna' under which insurance cover of Rs 5 lakh will be provided.
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