Over Rs 1,000 cr crop insurance dues not paid, says BJD
Biju Janata Dal raised the issue of non-settlement of claims under Pradhan Mantri Fasal Bima Yojana (PMFBY), with party spokesman Sasmit Patra saying on Monday that claims amounting to be more than Rs 1,000 crore of Odisha farmers have not been settled by the insurance companies.
“Lakhs of Odisha farmers across Bargarh, Sambalpur, Sonepur, Deogarh, Bolangir, Nuapada and Kalahandi districts are affected by the PMFBY,” Patra told media persons.
He said till Kharif 2020, the total premium paid to insurance companies was Rs 6163.28 crore while the payment by the insurance companies was Rs 5,098.64 crore. Thus, the insurance companies profited to the tune of Rs 1,064.64 crore, he said.
Sops for sugar companies may be revised on global cues
As international sugar prices recover, boosting the prospects of India’s sugar exports as well as the domestic sugar prices, the government is expected to revise policies related to incentives given to the sugar sector in the sugar season beginning October 1. Instead of giving subsidy for sugar exports, which have now become lucrative, the government is likely to increase ethanol procurement prices, industry leaders said.
In a recent advisory note, the government asked sugar mills to take an immediate call on signing export contracts to take advantage of high international prices as it expects the closing sugar stocks in the ensuing sugar season to remain historically high.
Centre buys record 874 lakh tonnes of paddy so far at MSP for Rs 1.65 lakh crore
The Centre has procured a record 873.68 lakh tonnes of paddy so far in the 2020-21 marketing year ending September for nearly Rs 1.65 lakh crore. Paddy procurement has reached at an all-time high level, surpassing previous high of 773.45 lakh tonnes in KMS (Kharif Marketing Season) 2019-20, an official statement said.
“About 129.03 lakh farmers have already been benefited from the ongoing KMS procurement operations with MSP value of Rs 1,64,951.77 crore,” it said.
Paddy procurement in the ongoing KMS 2020-21 is continuing smoothly in the procuring states. Kharif marketing season runs from October to September.