Paper Title
"Financial Proportions in Agricultural Insurance: Analyzing the Impact of PMFBY on Farmers"
Article Identifiers
: Authors
Keywords
Crop Insurance, PMFBY, Financial Security, Risk Management.
Abstract
Agriculture remains the backbone of the Indian economy, with a significant portion of the population dependent on farming for livelihood. However, Indian agriculture is highly vulnerable to climate change, erratic rainfall, and financial instability, necessitating risk management mechanisms such as crop insurance. This study examines the awareness, perception, and adoption of agricultural insurance, particularly Pradhan Mantri Fasal Bima Yojana (PMFBY), among farmers in Shivamogga district, Karnataka. The study employs a mixed-method approach using primary data collected from 49 farmers and secondary data sources. The findings indicate that 75.5% of farmers are aware of crop insurance, with 71.4% having availed of PMFBY, primarily due to government support and financial incentives. However, challenges such as limited coverage options (34.7%), trust issues (24.5%), and data accessibility barriers (51.0%) hinder wider adoption. Additionally, 83.7% of respondents express satisfaction with PMFBY, yet concerns over claim settlement efficiency and policy flexibility persist. The study recommends enhanced awareness campaigns, improved accessibility, faster claim processing, and diversified risk mitigation strategies to improve the effectiveness of PMFBY. Strengthening government intervention and expanding policy coverage can ensure greater financial security and resilience for farmers.
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How To Cite (APA)
Dr. Eswara MG (March-2025). "Financial Proportions in Agricultural Insurance: Analyzing the Impact of PMFBY on Farmers". INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 10(3), b556-b564. https://ijnrd.org/papers/IJNRD2503174.pdf
Issue
Volume 10 Issue 3, March-2025
Pages : b556-b564
Other Publication Details
Paper Reg. ID: IJNRD_304480
Published Paper Id: IJNRD2503174
Downloads: 000122001
Research Area: Others area
Author Type: Indian Author
Country: Tumkur , Karnataka , India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2503174.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2503174
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