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CAG, CSE rap crop insurance plans

The CAG report was presented in Parliament on Friday; the CSE analysis was released to the public

agriculture, crop, farming, monsoon

Government-pushed insurance schemes have achieved little and only benefited entities in the sector, the office of the Union comptroller and auditor general (CAG) has concluded, as has another report from the non-government Centre for Science and Environment (CSE). The CSE report says insurance companies had benefited by a cumulative Rs 10,000 crore in profit as on April, due to low claims reported in relation to the premium charged. The gross direct premium of general insurance companies grew by 32 per cent, from Rs 96,376 crore in 2015-16 to Rs 1.27 lakh crore in 2016-17, nearly ...