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Tamil Nadu: CM Stalin appeals to PM Modi to remove capping of Central share of premium subsidy under PMFBY

Tamil Nadu Chief Minister M. K. Stalin has appealed to Prime Minister Narendra Modi to take necessary action to remove capping of Central share of premium subsidy under Prime Minister Fasal Bima Yojana.

In a letter to Prime Minister Narendra Modi, he said that the Union Government should revert to the 49:49:2 ration premium share for the welfare of the farming community in the state.

Mr Stalin said, the scheme was launched with the noble intention of mitigating the economic losses of farmers at the time of natural calamities, has become a heavy liability to the states over the years.

The letter also pointed out that the new insurance models increase the risks to the states which are already reeling under severe financial crunch due to the COVID pandemic. He reiterated that action should be taken urgently for the welfare of the farmers.

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