Because that money doesn't actually reach them.
"While public sector insurance companies settled 90 per cent of farmers’ claims, private sector companies such as Bharti AXA, Reliance General Insurance, and Future General India Insurance pocketed enormous profits of nearly Rs 39,201 crores without paying farmers their rightful dues."
How does a farmer claim insurance? By logging onto a mobile app. How many farmers are tech literate enough to use insurance apps in India? No one cares
Are you a farmer? Or will you benefit from this?
What's with the daily farm bro posts?
Just a concerned citizen of the country tired of seeing half baked arguments online.
My hometown district has seen record farmer suicides since I can remember, and it still continues even today.
Farmer suicide has reduced significantly in past 7-8 years ffs what are you talking about ?? Start reading.
this idiom applies here "Fool and his money seldom part ways."
In before, market forces agriculture to go the china way. It's not our fault they're incompetent even after such support, just like physics has some rules, economics also has some rules.
Ser pls, which economics textbook features cow vigilantes? Do tell 😂
Many farmers got rekt simply because of excessive stray cows eating through their crop, apart from weather pests and other random bs.
No other profession is as important to humanity and as risk laden at the same time.
Tumse na hopaega, you've entirely missed the point.
Jab koi bhi sector tarakki karta hai, consolidation hota hai, handful of participants corner majority of market, holds true even for micro markets, paint industry ke sath hua, fmcg ke sath hua, aur bhi example hoga.
Small unorganised players are bound to be left behind, be it lack of resources /foresight /tech/ whatever. unless some miracle happens.
Hints of this consolidation are visible at ground level for farmland also, my village's prominent person called as "bana saheb" has amassed land worth over 700 crore rupees all this happened in last 25 years, could be combination of naivety/ incompetence of small farmers, (My own grandfather wasted/lost 1.8 acre land to this bana saheb)
Now this bana saheb has one of the largest warehouse for soybean in kota & baran district, has tie-up with oil manufacturer for patanjali, (there's 1 factory on nh72 15ish km from baran district headquarters)
Jo farm bill aae aur gye, were to support smaller farmers but as fate would've it they were brainwashed into selfharm by the so called protesters.
There's whole debacle going on about pulses and imports, even god can't help those who don't want to be helped.
Online randi rona karne se kuch nahi hoga, I've done my little bit, helped get solar system for borewell, forced relatives to get soil tested, avail the kisan credit card, etc etc if anyone is actually genuinely involved with farmers they know the ground realities of how much is available to help support them.
Pure Socialism toh nahi hone wala kitna bhi dream karlo.
Globally toh aloo pyaz ke bhi futures trade hote hai, ecosystem there hedges their plays.
Are you sure your claims will be settled? Less rain means you have a less crop will the insurance claim be settled? If rains are bad they are in not one area but a large area, do you think the premiums paid will cover all the claims that will be made? Will the companies pay on time(We may have luxury to wait farmers don’t, they need immediate money for the next crop for season)
See the figure 3 in this article https://theprint.in/opinion/has-crop-insurance-helped-indian-farmers-many-dont-get-payments-on-time/757815/
Or this “Citing the example of his district, Jagdish says, “In 2020, insurance companies received a premium of Rs 798 crore, but they only returned claims of Rs 13 crore to the farmers. Its settlement rate was 1.5%, which is less than the old crop insurance. Second, crores of rupees were given to private insurance companies in the name of Pradhan Mantri Fasal Bima Yojana. If the farmer wants a loan, he does not get the loan without insurance. Also, he doesn't have the option of choosing an insurance company. Even SBI (State Bank of India) puts pressure to get Reliance insurance done. The biggest scam in this is that the insurance is personal, but the claim is received based on a large area. Many small and big farmers have fields. Small farmers lose everything in this, but they get a very little insurance claim." From https://www.newsclick.in/pm-fasal-bima-yojana-only-benefiting-insurance-companies
Tell me big brain are you aware of reality of insurance or anything in India, people with money will dictate everything. And legal recourse is a joke, get stuck for 10 years in court.
If someone thinks many farmers don't know how to run mobile apps, they are far from the ground truth and are basically lying.
Come to my poor village (my family is small farmers with less than 5 acres), you'll find every household has a mobile phone, has used mobile wallets and even watches bloody tiktoks.
I was in my hometown, auto guy wanted cash instead of UPI. I was annoyed because who doesn't use UPI these days.
Then he said i don't know how to use UPI, i only studied till 6th. Don't have smartphone.
Reality is many of our citizens know basic functions but still don't understand what the buttons they're pressing actually say or mean. Just because you can use insta or tik tok doesn't necessarily mean you know how other applications work. Indians know social media only, if you ask them to use Google docs/drive or anything even slightly more complex, many of them will fail. Heck, even my dad who is educated doesn't know how his phone really works and struggles with fire stick. All he knows is how to run YouTube.
That's the reason why many vegetable sellers and local shops stop using UPI after a while. They don't know when they're getting scammed, merchant fees is extra, and soundbox an additional expense for someone who mostly lives hand to mouth.
You should test your village folks, see how many of them know how to use emails or Google drive. I'll guarantee you'll be surprised.
Admin problem
Also rightful dues? Every claim needs to be verified. Was this article written by a child?
Imploding after investors turned off the taps a year so ago.. investors spoilt the ecosystem chasing growth with weak business models.. disintermediation doesn’t always work.. neither does setting up models that impose costs and ignore r...
I want to take a medical insurance for me as well as my mother and father, Pre existing condition of them: YES
Which insurance is the best for them specifically?
