Assessing the Effectiveness of the Pradhan Mantri Fasal Bima Yojana in Haryana

Description

Page: 411-416

Vandana Sheoran, Rohtas Kait, and Mamta Rani (Department of Economics, Chaudhary Devi Lal University, Sirsa, Haryana)

Indian agriculture is a vital sector that plays a significant role in the country’s economy and sustains the livelihoods of millions of people. With a predominantly agrarian society, a large portion of India’s population depends on agriculture for their livelihood. The PMFBY has played a crucial role in supporting insured farmers, ensuring economic stability and safeguarding their livelihoods in Haryana. The present study uses secondary data from the Agriculture Department of Haryana and the PMFBY website to describe the performance of the Pradhan Mantri Fasal Bima Yojana (PMFBY) in Kaithal, Hisar, and Jhajjar districts. The study relies solely on secondary data from 2016-2022. Hisar district consistently had higher coverage in terms of farmers, total area, beneficiaries, claim amounts, farmers’ premiums, and gross premiums. Kaithal district showed significant coverage but experienced a decline in beneficiaries. Jhajjar district had lower figures overall.