-The Indian Express The one indicator that will worry the Devendra Fadnavis-led government the most as it spells out its final budget before the state polls on Tuesday is the negative growth in the crop sector. Mumbai: Suffering from a crippling drought and growing agrarian distress, Maharashtra’s economic growth remained stagnant at 7.5 per cent. According to the Economic Survey Report (ESR) 2018-19, which was presented to the state legislature on...
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Centre's Crop Insurance Scheme Fails the Drought Test, 40% Claims Unpaid -Kabir Agarwal and Dheeraj Mishra
-TheWire.in RTI data obtained by The Wire show that for the 2018 kharif season, total premium collected by companies amounted to Rs 20,747 crore while the claims paid totalled Rs 7,696 crore. New Delhi: Insurance companies have missed the deadline to recognise and pay claims worth over Rs 5,000 crore made by farmers under the Centre’s Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme, according to data obtained by The Wire through...
More »PMFBY: Farmers Quitting Scheme But Premium Collection Rises -Subodh Varma
-Newsclick.in Latest data shows that insurance companies have pocketed over Rs. 10,000 crore surplus in two years. The number of farmers enrolled in the Modi government’s flagship crop insurance scheme (Pradhan Mantri Fasal Bima Yojana or PMFBY) dipped further to 343 lakh in kharif (summer) crop season of 2018-19 year, according to latest information revealed at the annual kharif Conference organised by the Agriculture Ministry in Delhi on April 25-26. When the...
More »Growth in Agri GVA deflator saw a rising trend between 2005-06 & 2009-10, despite using different sources of back-series data
The year-on-year (y-o-y) growth rate in Agri Gross Value Added (GVA) deflator (an alternative measure of inflation) shows a rising trend between 2005-06 and 2009-10. In other words, price rise pertaining to the agrarian sector accelerated during the period under discussion. This particular trend has been observed irrespective of whether one uses the GVA/GDP back-series data (Base 2011-12=100) that was computed by the National Institution for Transforming India Aayog (NITI Aayog)...
More »More Than a Year After Crop Failure, Maharashtra Farmers Still Wait for Insurance Payout -Poorvi Kulkarni
-TheWire.in For many farmers, the compensation they received is substantially less than the premium they paid. Parbhani (Maharashtra): “If even one rupee owed to one farmer is not paid, then the government will pay that money and recover it from the (insurance) company,” said Maharashtra chief minister Devendra Fadnavis while addressing an rally ahead of the 2019 Lok Sabha elections. He was referring to the Prime Minister’s Crop Insurance Scheme (Pradhan Mantri...
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