-Livemint.com Delayed assessment of loss and settlement of claims by insurance companies may have led to farmers losing faith in Pradhan Mantri Fasal Bima Yojana, say analysts New Delhi: Sharad Markad, a lanky teenager from a marginal farming family in Maharashtra, spent the first day of 2019 scrounging for funds. Faced with a drought, the third in the past five years, Markad had taken it upon himself to build a community cattle...
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Fundamental flaws in crop insurance scheme's design makes it ineffective -Devinder Sharma
-Livemint.com The government did not visualize there were problems in the way it was designed, the methodology itself was faulty Pradhan Mantri Fasal Bima Yojana (PMFBY), the flagship programme launched with much fanfare in 2016, has run into rough weather. With both the area covered and the number of enrolled farmers declining, the country’s premium crop insurance scheme is certainly in need of an overhaul. While Parliament’s committee on estimates, chaired by senior...
More »Fasal Bima Yojana: Farmers' Distress is Source of Profit for Companies -Subodh Varma
-Newsclick.in The Modi government paid Rs.34,859 crore and farmers paid Rs.7,255 crore to insurance companies in three crop seasons. Among the series of schemes launched (or repackaged) by the Narendra Modi-led National Democratic Alliance government, one of the most toxic is the Pradhan Mantri Fasal Bima Yojana (PMFBY). Its purpose is to provide crop insurance to farmers, that is, if the crop fails due to some non-preventable reason, such as weather calamity...
More »Under Modi's Crop Insurance Scheme, Companies Owe Farmers a Whopping Rs 2,800 Crore -Kabir Agarwal and Dheeraj Mishra
-TheWire.in Claims have remained unpaid even after the stipulated period of two months has long passed. New Delhi: In January 2016, when the Narendra Modi led government announced the new crop insurance scheme – Pradhan Mantri Fasal Bima Yojana (PMFBY) – it had said that one of the key improvements over previous schemes would be that claims would be settled on time. However, RTI data received and reviewed by The Wire has revealed...
More »Farm loan waivers lead to fewer crop insurance policies -Prabhudatta Mishra & Prasanta Sahu
-Financial Express Implementation of farm loan waivers by various state governments has led to a sharp decline in both the number of insurance policies and the farm area insured under the Pradhan Mantri Fasal Bima Yojana (PMFBY). According to data gathered by FE, during kharif 2018 (the harvesting of the crop is on), the number of insured loanee farmers under PMFBY was just over 2 crore, compared with 3 crore such...
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