Pradhan Mantri Fasal Bima Yojana - the scheme is the scam. It's not about one private corporation, but over a dozen of them benefit in crores of rupees of public money. #Thread
The scheme's design ensures the siphoning off of over giant sums of public money to private corporations and to a couple of public insurers (in line for privatisation).
In the past three years over Rs. 66,000 crores of state govt. money and central govt money (i.e. public money) have been poured into the PMFBY's operations. (Apart from the premiums paid up by farmers)
'Compensation' payouts for devastated crop have been a joke. Most of that has come out of the paid premiums, is a fraction of the losses incurred, and leaves over huge sums of public money in the hands of private corporations
At the end of the #Rafael deal you at least, presumably, get an aircraft. At the end of the PM's crop insurance scheme you get hot air.
Those dissatisfied with their 'compensation' (ranging from Rs. 40 - 560 for loss of Soybean crop in PArbahani district) have nowhere to go. There is no dispute redressal mechanism.
Note that the CAG report. No., 7 of 2017 also has several unpleasant observations to make about the PMFBY. Including its lack of a dispute redressal mechanism. It also observes a decline in the number of farmers opting for the scheme. #pmscropinsurancescheme
Please watch a detailed explanation of this on @PARInetwork ruralindiaonline.org/articles/a-bum…
