-Financial Express While the government has reason to be pleased about the fact that the claims paid to farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY) have risen by around 50%, to Rs 15,181 crore in Kharif 2017 as compared to Rs 10,425 crore in Kharif 2016, what is worrying is the dip in both the number of farmers as well as land area covered by the scheme. More so...
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Under Modi's Crop Insurance Scheme, Premiums up 350% But Farmers' Coverage Stagnant -Kabir Agarwal and Dheeraj Mishra
-TheWire.in Premium collected by insurance companies has increased by Rs 36,848 crore, while the number of farmers covered has increased only by 0.42%, according to RTI data obtained by The Wire. New Delhi: In January 2016, Prime Minister Narendra Modi launched a revamped crop insurance scheme, his government’s flagship scheme for farmers, the Pradhan Mantri Fasal Bima Yojana (PMFBY). It would “bring about a major transformation in the lives of farmers”, Modi...
More »In Madhya Pradesh's theatre of farm rage, BJP puts its money on crop insurance -Ravish Tiwari
-The Indian Express Apart from the Pradhan Mantri Fasal Bima Yojana (PMFBY), the BJP is also counting on the Bhavantar Bhugtan Yojana (BBY), to neutralise rural anger ahead of the elections. Dewas, Ujjain: After the violent protests of June 2017 and unremunerative prices for most crops in the last one and a half years, Madhya Pradesh Chief Minister Shivraj Singh Chouhan has one trump card — a Rs 5,000 crore-plus insurance payout...
More »Govt penalizes insurers for delay in settling Crop insurance claims -Sayantan Bera
-Livemint.com While farmers will receive a 12% penal interest payment for delays in settling claims, state governments will be penalised if they delay in depositing their share of subsidies New Delhi: Faced with a sharp decline in the number of farmers signing up for its flagship crop insurance scheme, the centre on Tuesday imposed a 12% penalty on insurance companies for delayed settlement of claims. Under the new guidelines that will take effect...
More »Crop Insurance: Another dressed up scheme -CP Chandrasekhar
-Macroscan.org/ Frontline.in Pradhan Mantri Fasal Bima Yojana (PMFBY) launched in 2016 which is supplemented with Restructured Weather Based Crop Insurance Scheme (RWBCIS), have failed to deliver what it had promised. The number of farmers insured under this scheme has fallen and the claims paid to farmers has fallen from 98% to 61%. The scheme seems to be benefitting the insurance companies as there has been rise in gross premiums paid to...
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