The central government made a statement denying any unusual profits being credited to private insurance companies through the Pradhan Mantri Fasal Bima Yojana.
The office of the Union comptroller and auditor general and the non-profit Centre for Science and Environment (CSE) have both said the various crop insurance schemes, including the PM Yojana, only benefit the insurers.
The government said the total of claims reported, as against total insurance premium collected, was higher in both kharif 2016 and rabi 2017, the first two seasons when the Fasal Bima was in operation. This, it said, was because both were normal crop seasons, when claims were bound to be less.
