ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A
Promise, Pitfalls, and the Way Forward

Agriculture Insurance in India

The Pradhan Mantri Fasal Bima Yojana (during kharif 2016) and Weather-based Crop Insurance Scheme (kharif 2007–kharif 2014) are assessed by considering a set of performance indicators, namely average sum insured per insured cropped area, percentage of loanee and non-loanee farmers covered, average area insured per farmer, total claim ratio, farmer claim ratio, premium as percentage of sum insured, gross profit to insurance agencies. The study finds that claim payout can increase farmers’ coverage under PMFBY while subsidy and actuarial premium rate significantly impact farmers’ coverage for WBCIS. However, as recourse to complement the performance of two schemes, we propose a total insurance package like seed insurance through replanting guarantee programme, crop cycle insurance, prepaid insurance card, to name a few.



Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

₹649for India

$20for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top