Maharashtra farmers yet to receive Rs 516.34 crore of compensation for crop loss

This monsoon, farmers in the state had seen a long gap in rains as well as heavy rains during harvest time. Rains were exceptionally heavy during the retreat of the monsoon and farmers reported crop loss. Insurance companies had received 53,40,336 valid intimations. Of this 33,24,330 intimations were received for local climatic losses, 17,57,795 were for mid-seasonal losses and 5,73,791 were for a post-harvest loss.

Midseason adversaries were reported from 17 districts but insurance companies in Akola, Amravati and Solapur took objection to the claims. The district collectors of these three districts were asked to resolve the matter at the earliest. The lowest number of claims was received for post-harvest losses.

Analysis of data shows two public sector insurance companies alone owe farmers Rs 315.25 crore. The majority of the claims related to localised adversaries happened during the first few months of Kharif. Delay in payment of claims, officers say, is due to technical reasons with companies citing various discrepancies in the survey process. Interestingly, surveys have been conducted on time and the agriculture commissioner has carried out repeated follow-ups about timely payment.

Pradhan Mantri Fasal Bima Yojana (PMFBY) has found much favour with farmers who take this scheme to insure their crops from losses.

Given the low premium farmers had to pay and the 70 percent cover they receive the scheme has proved to be a success for farmers. Delays in payment of compensation farmers say defeat the whole purpose of insuring their crops. Insurance companies have come under repeated criticism for the delay in payment and had taken up the matter with higher authorities also.