Chennai: Chairperson of the Constitutional Court Minister Stalin on Thursday urged Prime Minister Narendra Modi to remove the closure to the central part of the premium subsidy under the Pradhan Scheme of the Mantri Fasal Bima Yojana (PMFBY), a government-sponsored plant insurance scheme, and returned to 49:49: 2 ratios Premium share for the welfare of the agricultural community in the state.
In a letter to Modi, a copy released to the media, the minister’s head said the state witnessed large growth in terms of insured regions and farmers registration because of the best practices adopted by the scheme.
“However, the part of the country from premium subsidies has increased at an annual growth rate of 28.7% in the past five years.
This has trusted the aim of the scheme because the country felt it was difficult to maintain a scheme due to the increasing financial liability which was also during this period of this pandemic,” said Stalin.
Initially, the sharing pattern in 2016-17 was 49: 49: 2 (center, state and farmers respectively).
Central shares have now been limited to 25% for irrigation areas and 30% for the rain area, resulting in an increase in the premium subsidy country share of 12%.
In terms of money, part of the country of premium subsidies, ₹ 566 crore in 2016-17, was installed 239% to Rs 1,918 Crore for 2020-21, after limiting the central share of premium subsidies.
This further increased to ₹ 2,500 crore at 2021-22 because of the exorbitant actuarial premium (APR) quoted by insurance companies returned by the trade union government.
“Thus, the financial implications of the country cause a lot of concerns,” said the Head of the Minister.
Stalin also remembers the country’s proposal to present a separate budget for agriculture during this fiscal for the first time in the state.
The goal increases areas under cultivation, doubling areas that are cultivated and achieve high productivity in food grains.
The government also carries a strong planting system that is strong enough to protect farmers from weather irregularities.