Implementation of PMFBY
(a) the status of implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) in the country, State-wise;
(b) the reaction of Government to Centre for Science and Environment’s report that private insurance companies are making huge profits under this scheme; and
(c) if so, the details of premium collected and compensation paid by each of the private sector insurance company under the Yojana since its implementation, State-wise, season-wise and year-wise?
GOVERNMENT OF INDIA
MINISTRY OF AGRICULTURE AND FARMERS WELFARE
RAJYA SABHA
UNSTARRED QUESTION NO-8 ANSWERED ON-15.12.2017
Implementation of PMFBY
8 . Shri K.K. Ragesh
Shri V. Vijayasai Reddy
(a) the status of implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) in the country, State-wise;
(b) the reaction of Government to Centre for Science and Environment’s report that private insurance companies are making huge profits under this scheme; and
(c) if so, the details of premium collected and compensation paid by each of the private sector insurance company under the Yojana since its implementation, State-wise, season-wise and year-wise?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF AGRICULTURE AND FARMERS WELFARE
(SHRI PARSHOTTAM RUPALA)
(a): Pradhan Mantri Fasal Bima Yojana (PMFBY) has been under implementation in the country since Kharif 2016 season. State-wise details of coverage during, 2016-17 (both Kharif 2016 and Rabi 2016-17) are given in Annexure-I.
(b): PMFBY was implemented in 2016-17 by the then 16 empanelled General Insurance Companies including all the 5 Public Sector General Insurance Companies. In fact, Public Sector General Insurance Companies share in the total crop insurance coverage was over 50%. Further the data used by the Centre for Science and Environment in its report including on claims reported/settled was not up-to-date at that time. As a principle, insurance covers risk to crops and claims are dependent on the occurrence of natural calamities. Even though 2016-17 was a good crop year, claims over 60% of the premium collected were reported to the insurance companies.
(c): State-wise and private company-wise details of premium collected and claims paid under PMFBY during 2016-17 are given in Annexure-II.
http://164.100.158.235/question/annex/244/Au8.doc
Source: Rajyasabha
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