TN CM Stalin writes to PM Modi requesting to remove caps of Central Share under PMFBY

Tamil Nadu Chief Minister MK Stalin on Thursday wrote a letter to Prime Minister Narendra Modi requesting the removal of caps of Central share on premium subsidy under PMFBY. Highlighting the urgency to remove the caps, he made the request for the welfare of the farming community in the state. 

MK Stalin's letter to PM Narendra Modi

Writing a letter to PM Modi, Tamil Nadu CM Stalin said that the Pradhan Mantri Fasal Bima Yojana (PMFBY) has been successfully implemented in the state and has witnessed a huge growth in terms of area insured and farmers' enrollment due to sincere efforts and best practices adopted by the state.

However, due to an increase in the states' share of premium subsidy at a compound annual growth of 28.07 per cent in the last 5 years, the State CM has now made the request to remove the capping of central share. 

He wrote, "This has stymied the very purpose of the scheme as the government of Tamil Nadu is finding it difficult to sustain the continuance of the scheme due to increasing financial liability, that too during this pandemic period."

Pradhan Mantri Fasal Bima Yojana (PMFBY)

The Pradhan Mantri Fasal Bima Yojana or PMFBY is one of the flagship schemes launched by the Central Government for handling the economic losses of farmers during natural calamities. However, with time it has now become a liability to the states. 

Thus, Stalin has now made an urge to the Centre for ensuring social security for the farmers. He said,

"I, therefore, request you to take necessary action urgently to remove the capping of Central share of premium subsidy under PMFBY and revert to 49:49:2 ratio premium share for the welfare of the farming community in the state."

(With agency inputs)