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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14

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Paper Title: Pradhan Mantri Fasal Bima Yojana: An assessment of Indias Crop insurance scheme
Authors Name: Poonam
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Published Paper Id: IJRTI2205122
Published In: Volume 7 Issue 5, May-2022
Abstract: Agri-culture is considered as the base of any country. It contains risk as it is practiced in open fields and the crops take time to get ready for consumption. Therefore, risk is considered as a significant part of farming business. Individuals involved in agriculture have been living in uncertainties. The uncertainties are related to weather, prices, yields, global markets, government policies and other factors that influence farming can cause wide swings in farm income. Thus, farmer’s role is considered important in the economy of a company. India is among largest exporters of rice especially of Basmati variety and is second largest producer of wheat. Therefore, farmers are needed to be protected from various risks associated with the agriculture. Agriculture has been primary sector of the Indian Economy. Almost, 43.9% population in India depends for their livelihood and accounts for 16% of Indian Gross Domestic Product. In the recent years, Crop Failures, indebtness of farmers, uncompensated prices and low earning led to agricultural suffering in many regions of India. Government is taking steps with various apparatuses to handle these problems like Crop-insurance schemes, Direct Benefit transfer (DBT) and Farm loan waivers. However, these apparatuses are executed on ad-hoc basis, are implemented and shuffled by political opposition. Therefore, after taking consideration of all these issues, in Feb. 2016, Central Government has announced the scheme of Crop-insurance “Pradhan Mantri Fasal Bima Yojana (PMFBY)” to averse the risk in agriculture faced by Farmers. PMFBY is an improvement on its previous predecessor schemes as those are facing logistical, structural and financial hindrances. This paper giives an evaluation of “the performance of the PMFBY in terms of adaptability and the achievement of the objective of one nation, one scheme.” Other objective of this paper is “to comparative analysis of PMFBY with other insurance scheme.”
Keywords: PMFBY, Insurance, Agriculture, Farmer, Risk reduction, Risk management
Cite Article: "Pradhan Mantri Fasal Bima Yojana: An assessment of Indias Crop insurance scheme", International Journal of Science & Engineering Development Research (, ISSN:2455-2631, Vol.7, Issue 5, page no.720 - 724, May-2022, Available :
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ISSN: 2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publication Details: Published Paper ID: IJRTI2205122
Registration ID:181869
Published In: Volume 7 Issue 5, May-2022
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Page No: 720 - 724
Research Area: Commerce
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED
Journal Starting Year (ESTD) : 2016

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