Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Premium rates under PM Fasal Bima Yojana continue to rise, pinching farmers and the govt -Rajalakshmi Nirmal

Premium rates under PM Fasal Bima Yojana continue to rise, pinching farmers and the govt -Rajalakshmi Nirmal

Share this article Share this article
published Published on Sep 26, 2019   modified Modified on Sep 26, 2019
-The Hindu Business Line

Insurance companies say changing guidelines under PMFBY have increased their costs

Chennai:
With insurers increasing premium rates every year, farmers and the government -- State and the Centre -- are coughing up more under the Pradhan Mantri Fasal Bima Yojana (PMFBY).

Sample this: In 2016-17, the premium rate was 10.75 per cent (of sum insured). This increased to 12.36 per cent in 2017-18 and to 12.60 per cent in 2018-19. For 2019-20, the rates have gone up further in Kharif, and is likely to be around 15 per cent for the full year.

The increase in premium rates has led to higher premium outgo, despite minimal change in the gross cropped area covered under the scheme. In 2018-19, the total premium paid to insurers under PMFBY was Rs 29,429.6 crore, up from Rs 25,480.8 crore in 2017-18 and Rs 22,008.1 crore in 2016-17.

Given that a large portion of the premium under PMFBY is paid by the government, the higher premium outgo is pinching it year after year. For farmers, too, rising premium has been a concern.

Please click here to read more.

The Hindu Business Line, 25 September, 2019, https://www.thehindubusinessline.com/money-and-banking/premium-rates-under-pm-fasal-bima-yojana-continue-to-rise-pinching-farmers-and-the-government/articl


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close