-Press released by All India Kisan Sangharsh Coordination Committee (AIKSCC) dated 1st February, 2020 Delhi, February 1st 2020: Budget fails to increase rural demand and purchasing power which would have boosted the economy - instead, the Budget only boosts the profits of big corporates and MNCs, said AIKSCC. When the crying need in India’s economy is to increase the demand and purchasing power in rural areas, and hence rural incomes, the...
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Amount owed by insurers to farmers at all-time high -Zia Haq
-Hindustan Times PMFBY has run into many of the old problems. The one most troubling issue for farmers is a continuous delay in payouts. The average delay in payment of claims, according to official data, is more than a year from the date of harvest. When the Pradhan Mantri Fasal Bima Yojana (PMFBY), the country’s flagship Crop Insurance Scheme was launched in June 2016, the idea was to replace complicated, multiple insurance...
More »Crop insurance flaws fuel farm distress -Sayantan Bera
-Livemint.com * At a time when rural incomes are sliding, the only existing safety net for the farmer is failing * High costs of reinsurance due to erratic weather, a spike in claims, political interference in crop loss estimation are reasons that forced some insurers to leave the business NEW DELHI: Santosh Kumar’s first brush with insurance left a bitter aftertaste. A farmer’s son, 26-year-old Kumar from Bihar’s Araria district felt betrayed when...
More »Fasal Bima, a story of dashed hopes -Radheshyam Jadhav
-The Hindu Business Line Farmers, reeling under crop losses, feel the Centre’s Crop Insurance Scheme is merely helping insurance firms make profits. Radheshyam Jadhav reports After completing his graduation, Ramkisan Nirmal took up a challenge. Unlike other youths who prefer to migrate to nearby cities in search of jobs, Ramkisan dreamed of becoming a farmer and prove that with modern technology and efforts, agriculture could become a profitable venture. In his drought-prone village...
More »Bengal CM Mamata Banerjee pegs loss due to cyclone Bulbul at Rs 50,000 crore
-PTI Those who have enrolled their names for the state government's Crop Insurance Scheme would get 100 per cent coverage for their loss, Mamata Banerjee asserted. West Bengal Chief Minister Mamata Banerjee, after conducting an aerial survey of cyclone Bulbul-hit areas in North 24 Parganas, said on Wednesday that the loss incurred by the state due to the natural calamity might go up to Rs 50,000 crore. Mamata Banerjee handed over a cheque...
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