PM Fasal Bima Yojana: Insurers reap a bumper crop, farmers left high and dry

To say that this new insurance scheme for farmers has failed would be an understatement. Coverage targets haven’t been met, claims haven’t been settled, yet more tax payers’ money has been spent on insuring farmers than ever before, writes Lokesh Kumar

The Pradhan Mantri Fasal Bima Yojna (PMFBY) has been in operation since the 2016 kharif season. The scheme was launched to help farmers cope with crop losses as a result of unseasonal, extreme weather. It supplanted the National Agricultural Insurance Scheme and Modified National Agriculture Insurance scheme. The scheme is supplemented with restructured Weather-Based Crop Insurance Scheme (WBCIS).

READ THE FULL ARTICLE HERE: PM Fasal Bima Yojana: Insurers reap a bumper crop, farmers left high and dry

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