-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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Agri families borrow more, eat less to cope with kin's suicide: study -Sayantan Bera
-Livemint.com * Average income of farm suicide families was just Rs.3,523 per month in 2016-17, below Rs.4,561 estimated by NSSO: study * The study found that 92% of farm suicide families were not enrolled under the centre’s flagship Crop Insurance Scheme NEW DELHI: Agricultural households are trying to cope with the suicide of an earning member of the family by borrowing more, skimping on food and even taking recourse to bonded labour, a...
More »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 »How a rural distress helpline in Telangana is preventing farmer suicides -Priyanka Richi
-TheNewsMinute.com Set up in 2017, Kisan Mitra provides counselling to distressed farmers and acts as a bridge between them and the government. “It was during the 2018 floods that we got a call from a farmer in Adilabad. The caller didn’t need any help for himself but said that his neighbour has been sitting in a corner of his field since morning with a bottle of pesticide in his hand. The...
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...
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