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LATEST NEWS UPDATES | Is crop insurance scheme losing steam? -Ashok Kumar

Is crop insurance scheme losing steam? -Ashok Kumar

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published Published on Nov 15, 2018   modified Modified on Nov 15, 2018
-The Hindu

Of the 84 lakh farmers who withdrew, 68.31 lakh are from the four BJP-ruled States: reply to RTI

Gurugram: More than 84 lakh farmers, which is around 15% of the total farmers insured in the first year of the Union government’s ambitious Pradhan Mantri Fasal Bima Yojana in 2016-17, withdrew themselves from the scheme in 2017-18, a reply to an RTI application has revealed.

It includes 68.31 lakh farmers from the four Bharatiya Janata Party-ruled States of Madhya Pradesh, Maharasthra, Rajasthan and Uttar Pradesh.

Profit margins

The crop insurance companies, including Reliance, ICICI, HDFC and IFFCO, among others, have registered a total profit of around Rs. 15,795 crore since the launch of the scheme, though the final profit margins could change since the insurance claims for 2017-18 Rabi crops are yet to be estimated. The profits for 2016-17 are approximately Rs. 6,459 crore, said the RTI reply.
 
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The Hindu, 14 November, 2018, https://www.thehindu.com/news/national/other-states/is-crop-insurance-scheme-losing-steam/article25488610.ece?homepage=true


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