FM Sitharaman stresses on release of premium subsidy on time to ensure timely settlement of claims
Jul 13, 2020
New Delhi [India], July 13 : Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday chaired a virtual meeting to review the implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) and stressed on the need for states to release of premium subsidy on time to ensure timely settlement of claims.
During the meeting, the Finance Minister stressed on the need of carrying out awareness activities to ensure dissemination of information among all farmers in view of scheme becoming voluntary for all farmers.
The Minister also emphasised the need for states to release premium subsidy on time to ensure timely settlement of claims.
Sitharaman suggested that stringent follow up should be done with the states, where the subsidy is pending especially those which are not implementing the scheme in Kharif 2020 with a view to ensuring payment of all pending claims to farmers at the earliest, read the release.
The challenges encountered and the status of implementation for the current Kharif 2020 crop season, especially after the Revamp of PMFBY, were discussed.
Secretary DAC&FW informed that leveraging technology was one of the main focus areas in revamped PMFBY and the department was working towards migrating to technology assessment of yield by 2023 and survey would be conducted after Rabi-2020-21 to ascertain the impact of the revamped PMFBY, as per the release.
