Pvt insurers minting money in PM Fasal Bima Yojana
CPI’s Rajya Sabha member Binoy Viswam shoots off a letter to PM Modi highlighting irregularities of grave nature committed by pvt insurance companies in settling insurance claims with farmers
image for illustrative purpose
Corruption Growing Wild
- State insurers settled 90% of farmers' claims
- Pvt insurers Bharti AXA, Reliance General Insurance and Future General India Insurance booked profits of Rs39,201 cr
- Pvt insurers didn't pay to farmers their rightful dues
- This is a scam of wider magnitude heralded by the corporate
Mumbai: There are lots of irregularities in the ongoing flagship crop insurance programme being run by the central government, alleges Binoy Viswam, who is the Rajya Sabha member and leader of CPI Parliamentary party & Secretary, National Council.
The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched as the flagship farm insurance scheme in 2016, was initiated to provide insurance protection to farmers against crop losses due to natural calamities.
In his recent letter to Prime Minister Narendra Modi, Viswam says that in recent years, there have been several reports of irregularities of grave nature committed by private insurance companies in settling insurance claims with farmers. This leads to the conversion of the scheme into a bonanza by the private companies to reap huge profits.
Talking to Bizz Buzz, Viswam said: "Naturally, farmers are denied their rightful protection under the scheme. Over the past five years, both the central government and State governments have contributed almost Rs1.265 lakh crore to the scheme to benefit our farmers. It is shocking that, as per the available reports, only Rs87,320 crore have been paid to the farmers." According to him, the private sector insurers are able to do all that in connivance with the government.
This staggering data throws light on the handling of the funds of the Pradhan Mantri Fasal Bima Yojana. While public-sector insurance companies settled 90 per cent of farmers' claims, private sector companies such as Bharti AXA, Reliance General Insurance and Future General India Insurance pocketed enormous profits of nearly Rs39,201 crore without paying farmers their rightful dues. This is a scam of wider magnitude heralded by the corporates, he alleged.
According to him, Union Minister of Education Dharmendra Pradhan has already written to the Union Minister of Agriculture and Farmers' Welfare Narendra Singh Tomar regarding the same issue in Odisha.
The Rajya Sabha member urged the Prime Minister to look into this grievous matter and initiate a CAG audit on how farmers are being deprived by the corporates.
"I also request that all those private companies that have defaulted on insurance payments to th farmers be blacklisted. I further request that the Pradhan Mantri Fasal Bima Yojana be entrusted only with the public insurance companies," he said in his letter.
Naturally, the farmers are denied their rightful protection under the scheme. Over the past five years, both the central and State governments have contributed almost Rs1.265 lakh crore to the scheme to benefit our farmers. It is shocking that, as per the available reports, only Rs87,320 crore have been paid to the farmers
