-Business Standard/ India Spend The BJP-led government spent Rs 4,880 crore ($753.99 million) on advertising its flagship schemes in the 52 months between April 2014 and July 2018 Mumbai: Midday meals for 45.7 million children for a year. One day’s wages for 200 million workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS). About 6 million new latrines. And at least 10 more Mars missions. These were some of the things...
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Crop insurance: Another dressed up scheme -CP Chandrasekhar
-Macroscan.org/ Frontline.in Pradhan Mantri Fasal Bima Yojana (PMFBY) launched in 2016 which is supplemented with Restructured Weather Based Crop insurance Scheme (RWBCIS), have failed to deliver what it had promised. The number of farmers insured under this scheme has fallen and the claims paid to farmers has fallen from 98% to 61%. The scheme seems to be benefitting the insurance companies as there has been rise in gross premiums paid to...
More »PMFBY -- Insurance Companies Make Super Profits, Farmers Suffer -Subodh Varma
-Newsclick.in Insurance companies have already earned about Rs.16,000 crore in three seasons. The much-hyped Pradhan Mantri Fasal Bima Yojana (PMFBY) – supposed to provide insurance protection to farmers against crop losses due to natural events – has turned into a bonanza for insurance companies while farmers are angry over delays in claim settlement, rejections and paltry compensation. Launched in 2016, four full seasons have passed since and the financial transactions show earnings...
More »Farmers in Bidar threaten suicide over non-payment of Crop insurance
-TheNewsMinute.com They enrolled for the Pradhan Mantri Fasal Bima Yojana in 2016-17, but allege they have not yet received payments. Around 300 farmers in Bidar threatened to take their own lives, claiming they have not been paid Crop insurance for the last two years. The farmers gathered at the Gram Panchayat office in Kosam demanding the payment of Crop insurance, which was supposed to be paid to them as part of the...
More »Why firms love Crop insurance more than farmers
-The Times of India NEW DELHI: The government's ambitious Crop insurance scheme has proved to be a jackpot for insurance companies last year, which collectively earned 85 per cent profit (after excluding administrative and reinsurance expenses) during the 2017-18 kharif season. Kharif is an Indian cropping season which extends from July to October. 17 insurance firms (5 public and 12 private) empanelled under the Pradhan Mantri Fasal Bima Yojana (PMFBY) registered a...
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