Multiple gaps in implementing flagship crop insurance scheme

Instead of appreciation, the Modi government’s flagship schemes for crop insurance, the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme have attracted criticism even though the PMFBY is substantially superior to crop insurance schemes under previous governments. They are farmers, banks, central and state governments, and insurance and reinsurance companies. The insurance companies would like to receive the insurance premium in time and the insurance claims to be low. In the event of deficient monsoon, the state governments are likely to push for increasing insurance coverage so that the farmers can get the claim.