Do Farmers Aware of Pradhan Mantri Fasal Bima Yojana? Evidence from Selected Farmers in Haryana

Description

Page: 1375-1379

Komal (Department of Economics, Government P.G. College, Hisar, Haryana)

The objective of the study is to suggest the awareness level of insured and non-insured farmers regarding the crop insurance scheme in Haryana and identify the core factor that affects their awareness level. The current study is exploratory in nature and based on primary data. This study has been conducted in three districts of Haryana Province, namely, Hisar, Kaithal, and Jhajjar. The study displayed the results of a survey of 600 farmers, which was structured to assess the awareness level of farmers regarding crop insurance and factors affecting the awareness level among farmers. The results showed that out of 300 non-insured farmers, 123 were aware of crop insurance, and the remaining 177 were not. Out of 123 farmers, 33.55 percent of non-insured farmers were aware of the latest crop insurance scheme from their fellow farmers. Banks and financial institutions constitute 40.83 percent of the most important source of information for insured respondent farmers. Using the Garette ranking model, crop risks leading to crop loss have been given priority according to farmers’ awareness of the features of the insurance scheme. Results obtained by applying the percentage and Garette ranking models revealed that banks and financial institutions were significant sources of responsiveness for the respondent insured farmers. It concluded that the non-insured farmers were highly aware of fellow farmers, followed by banks and financial institutions. The study found that a high level of awareness of the scheme succeeds among farmers who are covered under the scheme when compared to other farmers.