Fasal Bima Yojana has benefitted insurance companies more than it has the farmers. 95% of claims remain unpaid for Kharif crops of last year. For the policy, it was the Government of Karnataka that paid 50% of the cost of the PM Fazal Bima Yojna. The State is the first to directly pay the insurance amount into farmers’ account. The benefit farmers have received is due to the pro-activeness of the Karnataka government and not the centre.
Image Courtesy: Financial Express