Performance Analysis of Pradhan Mantri Fasal Bima Yojana
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https://doi.org/10.5281/zenodo.20035015
India is an agrarian country and Indian agriculture is mainly dependent on nature i.e. rain. Due to this, the agricultural sector is considered to be uncertain and affected from natural climate or disaster. For this reason, the 'Pradhan Mantri Fasal Bima Yojana' (PMFBY) has been implemented in the entire country including Maharashtra since 2016. For the prosperity of this scheme, the Maharashtra government has implemented the 'One Rupee Scheme'. Therefore, this research paper has analysed and studied the performance of PMFBY in Maharashtra state.
In this study, an attempt has been made to evaluate the rate of farmer participation under crop insurance, comparison of insurance premium and insurance claim, major challenges and shortcomings in the implementation of the scheme and farmers benefited under the PMFBY during 2020 to 2024. For achieving study purpose, the secondary data has been collected through the internet, books, previous research wroks, government reports, and dissertations, and its analysis and interpretation has been done. In this study, it is seen that the effect of the scheme 'One Rupee Scheme' implemented by the Maharashtra government from 2023 is noticeable. This has led to an increase in farmer participation, insurance coverage, and insurance claims, but not to the desired extent. Still, the 'One Rupee Scheme' can be considered a boon for farmers.
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References
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