Pradhan Mantri Fasal Bima Yojana And Its SocioEconomic Determinants: A Study Based On Growers’ Perception After Kharif 2021 In India

Abstract

Growers’ perception and willingness in farm insurance in the context of Indian farming always has an immense importance. Main focus
of the present study is to explore and highlight the growers’ perception and attitude towards Pradhan Mantri Fasal Bima Yojana
(PMFBY), one of the popular and user-friendly farm insurance schemes in Indian as well as to assess the impact of a few select socioeconomic determinants on cultivators’ willingness to avail PMFBY. Primary data have been collected for this purpose from a sample
of total 510 Indian growers or cultivators. A multistage random sampling has been employed to select two districts from each of the
select five states and from each district two blocks are selected at random. Total 20 blocks have been selected and 25 respondents are
selected randomly from the villages of each block. This primary survey has been conducted since November 2021 to January 2022 by
manual circulation of a pre-tested structured questionnaire. Data are presented and analysed with the help of descriptive statistics and a
binary probit regression for the sake of this study. It is found from the study that socio-economic parameters like farmers’ education,
size of farm land, monthly household income of the growers, their awareness regarding PMFBY and access to PMFBY have positive
impact as well as growers’ age, gender farming experience, access to irrigation and access to formal credit for farming have negative
impact on growers’ attitude towards risk mitigation through PMFBY.