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National News

Mar 17, 2020

Premium subsidy sharing pattern between Centre & North Eastern states changed from 50:50 to 90:10: Agriculture Minister

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Agriculture minister Narendra Singh Tomar today informed the Lok Sabha that the premium subsidy sharing pattern between Centre and North Eastern States has been changed from 50 : 50 to 90:10. It will allow more States to notify the scheme and existing States to notify more crops and areas to facilitate greater coverage of farmers under the scheme. For remaining States, subsidy sharing pattern will continue as 50 : 50. In a written reply to a question, Mr Tomar also said that the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) are regularly reviewed especially the challenges faced by the stakeholders in its implementation since their inception in Kharif 2016 season.

The Minister also said, Insurance companies will now be selected by the States for 3 years in a go instead of one year thereby increasing their commitment and accountability to the farmers.

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