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End privatisation in crop insurance: AIKS appeals to Centre

Press Trust of India  |  New Delhi 

The All Kisan Sabha has appealed to the Centre to end privatisation in the field of crop insurance, while alleging that out of the huge premium collected from farmers only a "minuscule amount" has been given to them as payment.

"The corporate houses are getting the major chunk of the premium while farmers have been distributed mere 3.31 per cent of the total premium collected," the Sabha today alleged.

In a press conference held here, it also said that on May 15, a delegation of AIKS had Union Agriculture Minister Radha and submitted a memorandum with a set of demands.

"One of our demands was that privatisation in the field of crop be stopped," a AIKS official said.

In a major farm sector sop, the Centre on January 13 last year had announced a new Rs 17,600-crore crop scheme to cover loss of crops due to natural calamities like drought at a very low premium payout by farmers.

Under the scheme Pradhan Mantri Fasal Bima (PMFBY), the state will also provide a matching contribution while farmers will pay only only 2 per cent of the premium fixed by the insurance company for kharif foodgrains/oilseeds crops and 1.5 per cent for rabi foodgrains/oilseeds crops.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 00:22 IST