Mumbai

The Maharashtra agriculture department has furnished sharply different figures on crop insurance finances in written replies submitted to the two Houses of the state legislature, raising eyebrows.

Agriculture Minister Dattatray Bharne informed the assembly that insurance companies made a net profit of about Rs 6,944.11 crore under the Pradhan Mantri Fasal Bima Yojana, while a written reply tabled in the council put the corresponding figure at about Rs 8,516.97 crore for an overlapping period, showing a discrepancy of more than Rs 1,500 crore.

The contradictory figures appear in written replies given by Bharane to separate starred questions regarding the implementation of the crop insurance scheme and the financial position of insurance companies.

In the council, Bharane stated on Monday that from 2016 to 2024-25, insurance companies received a total premium of Rs 52,563.22 crore under the scheme, while farmers were paid compensation of Rs 37,625.69 crore.

He stated that since the state government capped insurers' profit at 20 per cent of the gross premium from 2022 onwards, insurance companies earned a net profit of Rs 8,516.97 crore and refunded Rs 5,583.03 crore as excess premium to the state government.

However, in a written reply tabled in the assembly on Thursday, the minister stated that insurance companies received total premiums of Rs 55,426 crore between 2016 and 2025-26, while compensation paid to farmers stood at Rs 39,918.55 crore.

The same reply said insurers earned a net profit of Rs 6,944.11 crore after the profit cap came into force and similarly refunded Rs 5,583.03 crore to the state government.

The two replies also differed on compensation under the ongoing kharif season.

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Both replies maintained that complaints about delayed settlement of crop insurance claims were true to some extent, highlighting that grievance redressal committees are functioning at the taluka, district, divisional and state levels.

They also said insurance companies selected through the Central tender process undertake reinsurance as mandated under the scheme.