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Centre to share premium subsidy for Pradhan Mantri Fasal Bima Yojana for North eastern states

Union Minister of State for Agriculture & Farmers Welfare, Parshottam Rupala said that Central government will share premium subsidy for Pradhan Mantri Fasal Bima Yojana (PMFBY)upto 90 percent for the North eastern states from the existing sharing pattern of 50:50.

Rupala attended a review meeting of Central Sector & Centrally Sponsored schemes in Guwahati. Taking forward the ongoing Crop Insurance Awareness Campaign for Pradhan Mantri Fasal Bima Yojana (PMFBY) during the Crop Insurance Week across the country, Rupala informed that PMFBY aims to provide security cover to each farmer. He informed that the Central government will share premium subsidy for PMFBY up to 90 per cent for the north–eastern states from the existing sharing pattern of 50:50.

Praising Prime Minister Modi’s vision to provide financial security to the farmers of India from vagaries of nature and to secure their hard work, schemes like PMFBY will provide insurance coverage and financial support to the farmers in events of failure due to natural calamities, pests and diseases and also stabilize the income of farmers to ensure their continuance in farming.

He informed that more than Rs. 95,000 crore worth of claims has also been provided to the farmers since the launch of the scheme, against the total premium of Rs. 17,000 crores paid by them.

He apprised that as an endeavor to constantly bring about improvements, the scheme was made voluntary for all farmers, post its revamp in February 2020. Over 5.5 crore farmer applications have been received on year on year basis.

Rupala also highlighted about various other Central Government schemes for the farmers like Pradhan Mantri Kisan Yojana and hiking MSP for various products which has immensely helped the farmers in the country.

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