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A double-edge sword for farmers -- Loan waivers shrink credit supply to the farm sector -Kushankur Dey

n limited as the moral hazard of non-repayment and adverse selection in credit financing to small farmers are extremely high. Even if small/marginal farmers access short-term crop loan capped with an Insurance Premium, they often fail to repay the loan amount after realising proceeds from the harvest. So, from a rational expectation point of view, production quantum, level of inventory, previous debt outstanding, and market clearing price decide farme

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The safety net of the future -Pranab Bardhan

that we have mentioned for loan waivers and farm income support per hectare, and also some of the administrative and perverse incentive problems of most insurance schemes (the much-hyped current farm Insurance Premium subsidy scheme has been hobbled by low participation and tardy claim settlements, often benefiting private insurance companies more than the farmers). Please click here to read more.

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Govt penalizes insurers for delay in settling crop insurance claims -Sayantan Bera

escribed cut-off date, state governments will have to pay the penalty if they delay depositing their share of subsidies by three months or more. Under the scheme, farmers pay between 1.5-2% of the Insurance Premium while the rest is paid equally by the centre and state governments. Further, the new operational guidelines for the Pradhan Mantri Fasal Bima Yojana (PMFBY) has set a new target for insurance companies to enrol 10% more non-loanee far

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Poverty: The direct approach isn't always best -Bjorn Lomborg & Manorama Bakshi

tion. The Pradhan Mantri Fasal Bima Yojana (PMFBY) is the most recent—and most comprehensive—crop insurance model, launched in 2016 and reaching some 39 million farmers. Typically, the Insurance Premium is almost entirely paid by the Central and state governments. Taking the state of Andhra Pradesh as an example, the researchers find that PMFBY, if expanded from 22% coverage today to 50% coverage in 2024, will cost around Rs2 trillion.

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Farm, Fractured -V Kumara Swamy

es under it by 2018-19. This was launched against the backdrop of a spate of farmer suicides countrywide. The concept underlying it is noble - farmers will contribute around 2 per cent of the crop Insurance Premium; the rest would be borne by the central and state governments. It was to cover at least 50 per cent of the cropped area by 2018-19. Ashok Gulati, an agriculture expert and a member of the erstwhile Planning Commission, points out t

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Hardly a gamechanger -Subrata Mukherjee & Subhanil Chowdhury

the new health scheme announced in the Budget brings more people under insurance, then the rate of hospitalisation will show significant improvement. Therefore, over and above the money needed for Insurance Premium, adequate medical infrastructure needs to be created for the scheme to work; given that there has not been much allocation for it in the Budget. In the absence of such allocation, private health-care demand will rise, possibly leading to

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Health insurance firms are denying us coverage, some organ donors allege -Priyanka Vora

called medical underwriting – to calculate the chances that the person being insured filing a claim over a period of time, on the basis of which the application is rejected or accepted and the Insurance Premium calculated. The companies create risk pools, which are groups of people whose predicted claims are combined in order for underwriters to calculate premiums at a rate that is meant to allow the company to pay claims while making a prof

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Now, Aadhaar mandatory to access LIC policy online -TK Rohit

Development Authority (IRDA) issued a notification to that effect. Users complain Several people who spoke to The Hindu said they were unable to log on to their own profile page to access their Insurance Premium records on LIC’s website without linking their policies with their Aadhaar numbers. Policy-holder Prasanto K. Roy said since he had to download his policy receipts, he had no other way out but to submit his Aadhaar number to acc

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Sharp hike in health Insurance Premium hits senior citizens -Rachel Chitra and Rema Nagarajan

-The Times of India This month, Kolkata-based Mr and Mrs Soubito Banerjee, who are in their 70s, saw their medical Insurance Premium almost double from Rs 32,000 to Rs 63,000. Chennai-based Annathai Gopalakrishnan (68) will pay Rs 58,000, up from Rs 29,000. In general, a health insurance cover of just Rs 5 lakh for a 65-year-old couple now costs Rs 84,000 per annum, as against Rs 54,000 five years ago. For many senior citizens living on a pen

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