The Pradhan Mantri Fasal Bima Yojana will end up being a bigger scam than the Rafale deal in terms of free handouts to corporations. Already, since 2016, the central and state governments have together allocated over Rs. 66,000 crores to crop insurance schemes. These three years have also seen serious farmer distress and crop failure in several regions. In the ‘compensations’ paid out to farmers, it is hard to spot any funds that have come out of the pockets of the insurance companies (mainly private, but also including public entities like the Life Insurance Corporation or LIC). The payouts have come from the premiums given by the farmer, and by state and central governments – and account for only a fraction of even those premiums, leaving over huge sums of public money for the insurers. And the first claimant on any ‘compensation’ is the bank that gave the farmer the loan he or she is unable to repay.
‘We are celebrating inequality’: P Sainath on his vision for India at the DS Borker Memorial Lecture
A measure of P Sainath’s popularity is 50 people sitting cross-legged on the stage to make room for a 100 more who were pushing in at the door of the India International Center on Wednesday […]
The exhibit, Visible Work, Invisible Women: Women & Work in Rural India mixes text with visuals and brings home the astonishing but unacknowledged contribution that poor rural women make to the national economy. It opened […]
On March 6, about 40,000 subsistence farmers and landless peasants, many from impoverished indigenous tribes, marched to Mumbai from Nashik, a city 112 miles northeast of India’s commercial capital. The sea of humanity flooding the […]