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LATEST NEWS UPDATES | Farmers await crop insurance payout, 55% claims pending -Sayantan Bera </title>
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Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows
New Delhi: Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for..."/>
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Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows
New Delhi: Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for..." />
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<h1 class="cat-box-title">Farmers await crop insurance payout, 55% claims pending -Sayantan Bera</h1>
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Published on</span><span class="text-date"> Jul 29, 2017</span>
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<div align="justify">-Livemint.com<br /><br /><em>Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows<br /></em><br /><em>New Delhi: </em>Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for 55% of estimated claims under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), shows latest numbers from the agriculture ministry.<br /><br />The data shows that insurance companies collected Rs22,338 crore in 2016-17 in premiums, a four-fold increase year-on-year that was mostly subsidized by the central and state governments. However, till 21 July, against Rs12,490 crore of estimated claims (for kharif and rabi crop seasons), Rs5,875 crore, or just 45%, has been paid to farmers. Claims arising out of the kharif crop, harvested in November last year, are estimated at Rs10,257 crore, of which Rs4,649-crore worth, or 45%, have been settled.<br /><br />“The delay in claim settlement is due to state governments delaying paying their share of premium and delays in carrying out crop-cutting experiments to estimate yield loss,” said an official with a public insurance company on condition of anonymity.<br /><br />The delay is glaring as over seven months have passed since farmers harvested their kharif crops, and it is the responsibility of state governments to carry out crop-loss assessment and send the claims for processing to insurance companies.<br /><br />While PMFBY promised use of smartphones, satellites and drones to carry out faster assessments of crop loss, district-level officials at times carry out these assessments without even visiting the farmers’ fields, said an assessment of the scheme released by the Delhi-based Centre for Science and Environment (CSE) last week.<br /><br />The data shows that in Bihar and West Bengal, insurance companies collected Rs1,423 crore and Rs731 crore in premiums, respectively, and despite Rs432 crore of estimated claims from these states, farmers received less than Rs1 crore. Similarly, in Telangana, Rs311 crore was collected as premium and against Rs174 crore of estimated claims, farmers did not receive any payouts.<br /><br />In Madhya Pradesh, Rs4,055 crore of premium was collected and against Rs1,742 crore of estimated claims, farmers have received just Rs94 crore so far.<br /><br />In drought-hit states too, payouts are similarly delayed, the data shows. For instance, in Karnataka, against estimated claims of Rs1,020 crore, farmers have received Rs617 crore so far. Similarly, for Tamil Nadu, claims are estimated at Rs2,142 crore, while about Rs1,213 crore has been paid to farmers.<br /><br />Please <a href="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html" title="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html">click here</a> to read more. <br /></div>
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<br><a href="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html" class="re" target="_blank">Livemint.com, 28 July, 2017, http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html</a><div class="clear"></div>
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<h1 class="cat-box-title">Farmers await crop insurance payout, 55% claims pending -Sayantan Bera</h1>
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<div align="justify">-Livemint.com<br /><br /><em>Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows<br /></em><br /><em>New Delhi: </em>Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for 55% of estimated claims under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), shows latest numbers from the agriculture ministry.<br /><br />The data shows that insurance companies collected Rs22,338 crore in 2016-17 in premiums, a four-fold increase year-on-year that was mostly subsidized by the central and state governments. However, till 21 July, against Rs12,490 crore of estimated claims (for kharif and rabi crop seasons), Rs5,875 crore, or just 45%, has been paid to farmers. Claims arising out of the kharif crop, harvested in November last year, are estimated at Rs10,257 crore, of which Rs4,649-crore worth, or 45%, have been settled.<br /><br />“The delay in claim settlement is due to state governments delaying paying their share of premium and delays in carrying out crop-cutting experiments to estimate yield loss,” said an official with a public insurance company on condition of anonymity.<br /><br />The delay is glaring as over seven months have passed since farmers harvested their kharif crops, and it is the responsibility of state governments to carry out crop-loss assessment and send the claims for processing to insurance companies.<br /><br />While PMFBY promised use of smartphones, satellites and drones to carry out faster assessments of crop loss, district-level officials at times carry out these assessments without even visiting the farmers’ fields, said an assessment of the scheme released by the Delhi-based Centre for Science and Environment (CSE) last week.<br /><br />The data shows that in Bihar and West Bengal, insurance companies collected Rs1,423 crore and Rs731 crore in premiums, respectively, and despite Rs432 crore of estimated claims from these states, farmers received less than Rs1 crore. Similarly, in Telangana, Rs311 crore was collected as premium and against Rs174 crore of estimated claims, farmers did not receive any payouts.<br /><br />In Madhya Pradesh, Rs4,055 crore of premium was collected and against Rs1,742 crore of estimated claims, farmers have received just Rs94 crore so far.<br /><br />In drought-hit states too, payouts are similarly delayed, the data shows. For instance, in Karnataka, against estimated claims of Rs1,020 crore, farmers have received Rs617 crore so far. Similarly, for Tamil Nadu, claims are estimated at Rs2,142 crore, while about Rs1,213 crore has been paid to farmers.<br /><br />Please <a href="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html" title="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html">click here</a> to read more. <br /></div>
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LATEST NEWS UPDATES | Farmers await crop insurance payout, 55% claims pending -Sayantan Bera </title>
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Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows
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<h1 class="cat-box-title">Farmers await crop insurance payout, 55% claims pending -Sayantan Bera</h1>
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<div align="justify">-Livemint.com<br /><br /><em>Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows<br /></em><br /><em>New Delhi: </em>Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for 55% of estimated claims under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), shows latest numbers from the agriculture ministry.<br /><br />The data shows that insurance companies collected Rs22,338 crore in 2016-17 in premiums, a four-fold increase year-on-year that was mostly subsidized by the central and state governments. However, till 21 July, against Rs12,490 crore of estimated claims (for kharif and rabi crop seasons), Rs5,875 crore, or just 45%, has been paid to farmers. Claims arising out of the kharif crop, harvested in November last year, are estimated at Rs10,257 crore, of which Rs4,649-crore worth, or 45%, have been settled.<br /><br />“The delay in claim settlement is due to state governments delaying paying their share of premium and delays in carrying out crop-cutting experiments to estimate yield loss,” said an official with a public insurance company on condition of anonymity.<br /><br />The delay is glaring as over seven months have passed since farmers harvested their kharif crops, and it is the responsibility of state governments to carry out crop-loss assessment and send the claims for processing to insurance companies.<br /><br />While PMFBY promised use of smartphones, satellites and drones to carry out faster assessments of crop loss, district-level officials at times carry out these assessments without even visiting the farmers’ fields, said an assessment of the scheme released by the Delhi-based Centre for Science and Environment (CSE) last week.<br /><br />The data shows that in Bihar and West Bengal, insurance companies collected Rs1,423 crore and Rs731 crore in premiums, respectively, and despite Rs432 crore of estimated claims from these states, farmers received less than Rs1 crore. Similarly, in Telangana, Rs311 crore was collected as premium and against Rs174 crore of estimated claims, farmers did not receive any payouts.<br /><br />In Madhya Pradesh, Rs4,055 crore of premium was collected and against Rs1,742 crore of estimated claims, farmers have received just Rs94 crore so far.<br /><br />In drought-hit states too, payouts are similarly delayed, the data shows. For instance, in Karnataka, against estimated claims of Rs1,020 crore, farmers have received Rs617 crore so far. Similarly, for Tamil Nadu, claims are estimated at Rs2,142 crore, while about Rs1,213 crore has been paid to farmers.<br /><br />Please <a href="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html" title="http://www.livemint.com/Politics/YevrgQtnq5L7ZydEgCutsM/Farmers-await-crop-insurance-payout-55-claims-pending.html">click here</a> to read more. <br /></div>
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Farmers await crop insurance payout, 55% claims pending -Sayantan Bera
Published on Jul 29, 2017
Modified on Jul 29, 2017
-Livemint.com
Under the flagship crop insurance scheme Pradhan Mantri Fasal Bima Yojana, Rs5,875 crore, or just 45%, has been paid to farmers, agriculture ministry data shows
New Delhi: Farmers who suffered crop losses in 2016-17 are yet to receive insurance compensation for 55% of estimated claims under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), shows latest numbers from the agriculture ministry.
The data shows that insurance companies collected Rs22,338 crore in 2016-17 in premiums, a four-fold increase year-on-year that was mostly subsidized by the central and state governments. However, till 21 July, against Rs12,490 crore of estimated claims (for kharif and rabi crop seasons), Rs5,875 crore, or just 45%, has been paid to farmers. Claims arising out of the kharif crop, harvested in November last year, are estimated at Rs10,257 crore, of which Rs4,649-crore worth, or 45%, have been settled.
“The delay in claim settlement is due to state governments delaying paying their share of premium and delays in carrying out crop-cutting experiments to estimate yield loss,” said an official with a public insurance company on condition of anonymity.
The delay is glaring as over seven months have passed since farmers harvested their kharif crops, and it is the responsibility of state governments to carry out crop-loss assessment and send the claims for processing to insurance companies.
While PMFBY promised use of smartphones, satellites and drones to carry out faster assessments of crop loss, district-level officials at times carry out these assessments without even visiting the farmers’ fields, said an assessment of the scheme released by the Delhi-based Centre for Science and Environment (CSE) last week.
The data shows that in Bihar and West Bengal, insurance companies collected Rs1,423 crore and Rs731 crore in premiums, respectively, and despite Rs432 crore of estimated claims from these states, farmers received less than Rs1 crore. Similarly, in Telangana, Rs311 crore was collected as premium and against Rs174 crore of estimated claims, farmers did not receive any payouts.
In Madhya Pradesh, Rs4,055 crore of premium was collected and against Rs1,742 crore of estimated claims, farmers have received just Rs94 crore so far.
In drought-hit states too, payouts are similarly delayed, the data shows. For instance, in Karnataka, against estimated claims of Rs1,020 crore, farmers have received Rs617 crore so far. Similarly, for Tamil Nadu, claims are estimated at Rs2,142 crore, while about Rs1,213 crore has been paid to farmers.
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