-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...
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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 »Farmers in Maharashtra village finally get their crop-cover dues -Rajalakshmi Nirmal
-The Hindu Business Line Many ryots covered by PMFBY in Jalna district faced hardship due to a bureaucratic bungle Following a BusinessLine article dated February 18 (‘When cover for farmers came a cropper’), settlement has been done to 146 farmers of Jalna district in Aurangabad (Maharashtra) under the crop insurance scheme (for Kharif 2017) by the insurer, IFFCO Tokio. Here’s a quick recap of what had happened: Jalna was badly hit by a...
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-The Hindu Business Line Implementation issues in Fasal Bima Yojana need to be addressed A BusinessLine series from perennially drought-prone Jalna and Parbhani districts in Maharashtra has brought to the fore implementation lapses in the Pradhan Mantri Fasal Bima Yojana (PMFBY). Farmers have not been compensated for crop damage, owing to multiple factors. Chief among these is irregularities in crop cutting experiments. The CCEs are meant to be carried in the presence...
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