Vol. 11, Special Issue 4 (2022)

Author(s):
Aakash Rawat and Jayant Zechariah

Abstract:
Pradhan Mantri Fasal Bima Yojana is a crop based insurance scheme launched to provide financial support to farmers suffering from crop loss/damage. The present study was carried out in Faridabad district in the year 2021-2022 to know the Socio-economic characteristics of sample farmers, Response of insured and uninsured farmers about PMFBY, Impact of PMFBY on insured and uninsured farmers, Constraints faced by farmers in adopting PMFBY and Suggestions made by the respondents. Multi stage random sampling procedure was adopted to select the respondents. Two blocks viz. Ballabgarh and Tigaon were selected as these blocks has a greater number of KCC loanee farmers automatically being covered by PMFBY. Villages were selected based on highest number of loanee farmers and insured farmers under PMFBY. Ten villages were selected randomly. Farmers who have purchased and not purchased insurance contract were interviewed. The numbers of farmers interviewed were 120. The numbers of farmers from each village were selected randomly. 120 farmers were personally interviewed in ten villages i.e. 60 insured and 60 uninsured farmers. A structured schedule was used to collect the data through survey method. When the conclusion was drawn it was found that 18 farmers out of 60 insured farmers were satisfied with PMFBY. 56.67 percentage of uninsured farmers were not aware of the PMFBY when asked for not availing PMFBY.