The Cabinet Committee on Economic Affairs approved on Thursday a weather insurance scheme as a risk management support for coffee growers.
The scheme would entail an expenditure of Rs 22.87 crore (Rs 228.7 million) a year, covering small coffee growers with plantations that are not bigger than 10 hectares.
The maximum sum insured per hectare for Robusta and Arabica variety of coffee will be Rs 20,000 and Rs 30,000, respectively. The premium will be shared equally between a grower and the government.
The scheme would be implemented by the Coffee Board. The personal accident insurance scheme for coffee growers has been extended to cover permanent plantation workers as well. The scheme covers growers who have plantations of not more than four hectares.
The Cabinet also cleared the proposal to set up an NRI/PIO University in India, which would be a deemed university under the UGC Act.
The university will be set up by overseas Indian trusts or societies under the supervision of the Ministry of Overseas Indian Affairs. Parliamentary Affairs Minister Priyaranjan Dasmunshi clarified that the university would not be set up in a special economic zone.
The CCEA also cleared a rail link from Edapally to the international container transshipment terminal site at Vallarpadam at Cochin Port.
