Livestock Insurance Scheme

Department of Animal Husbandry & Dairying on Thursday said it is implementing a credit guarantee scheme to facilitate inflow of fund to MSMEs engaged in livestock sector. The department, which is under the Ministry of Fisheries, Animal Husbandry and Dairying, is implementing the Credit Guarantee Scheme under Animal Husbandry Infrastructure Development Fund (AHIDF). The scheme is aimed to strengthen credit delivery system and facilitate smooth flow of credit to the Micro, Small & Medium Enterprises (MSMEs) engaged in livestock sector without hassles of collateral security. "For operationalising the scheme, the department has established a Credit Guarantee fund Trust of Rs 750 crore, which will provide credit guarantee coverage up to 25 per cent of the credit facilities extended to the MSMEs by the eligible lending institutions," an official statement said. The credit guarantee scheme facilitates access to finance for un-served and under-served livestock sector, making ...

Livestock accounts for 8-9 per cent of state GDP

According to the parliamentary panel's reports, not even a single livestock was insured during 2022-23, whereas in 2021-22, 174,061 animals were insured

The scheme could be formalised on the lines of the Pradhan Mantri Fasal Bima Yojana (PMFBY), which is for the crop sector, sources said

Officials said the matter was discussed at a high-level meeting which was also attended by representatives from insurance companies