-Business Standard The state demands that the insurance scheme should cover the produce lying in market yards, waiting to be bought by agencies Chandigarh: The Pradhan Mantri Fasal Bima Yojana, hailed as one of the most farmer-friendly crop insurance schemes of independent India, has run into rough weather in Punjab. The state is at loggerheads with the Centre over the efficacy of the crop insurance scheme. "The new scheme provides an indemnity level...
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End of crop loan subsidy likely to heighten defaults, banks say -Namrata Acharya
-Business Standard But RBI data suggest that by replacing interest subsidy with crop insurance, government can use about Rs 12,500 cr to facilitate crop insurance scheme If a recent recommendation of the Reserve Bank of India (RBI) on crop loan subsidy is approved by the government, agricultural loans are set to become as costly as home loans or car loans. RBI has suggested interest subvention on crop loans should be phased out,...
More »NDA junks the ‘dumb peasant’ argument -Anil Padmanabhan
-Livemint.com Traditionally, public policy has tended to view Indian farmers as what is described in economic history as the “dumb peasant” Last week, the National Democratic Alliance (NDA) government launched a revamped crop insurance scheme. At first glance, the scheme, christened Pradhan Mantri Fasal Bima Yojana, looks mostly like a reworking of the risk cover already in place; actually, it is much more. Not only does it take a big step in de-risking...
More »Cabinet gives nod to new agriculture insurance scheme -Jitendra
-Down to Earth The new scheme will be unable to address the existing agrarian crises, say experts The Centre has approved a new crop insurance scheme for farmers that will replace two existing agriculture insurance schemes. The scheme, Pradhan Mantri Fasal Bima Yojana, was cleared at the Cabinet meeting headed by Prime Minister Narendra Modi. The new scheme promises less premium and early claim settlement. However, experts feel that it will unable to...
More »Crop scheme after rural losses -Radhika Ramaseshan
-The Telegraph New Delhi: Heavy losses in rural areas in recent elections have pushed the Narendra Modi government to re-launch its crop insurance scheme with changes to make it more farmer-friendly. The BJP has been asked to go all out to sell the scheme, renamed the Pradhan Mantri Fasal Bima Yojana (Prime Minister Crop Insurance Scheme) to emphasise Modi's central role in conceptualising it. Three senior ministers, Rajnath Singh, M. Venkaiah Naidu and...
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