An Evaluation of farmers perception towards the benefits PMFBY: A Study at Tumkur District

Abstract

Agriculture in India is inherently vulnerable to a variety of risks including climate variability, pest attacks, and market uncertainties, making crop insurance a crucial tool for farmers. This study evaluates the perception of farmers in Tumkur district towards the Pradhan Mantri Fasal Bima Yojana (PMFBY), a flagship crop insurance scheme launched by the Government of India in 2016. The scheme aims to provide comprehensive risk coverage from pre-sowing to post-harvest stages at minimal premium costs. A structured survey was conducted among 400 farmers, including both insured and non-insured participants, to understand their awareness, perception, and utilization of the scheme. The results reveal that while a majority of the farmers are aware of PMFBY and perceive it as beneficial, there is still a considerable gap in claim registration and disbursement. Regression analysis confirms that increased knowledge of PMFBY positively influences the perception of benefits, and this perception significantly affects the perceived effectiveness of the scheme. The findings highlight the need for improved awareness campaigns, simplified claim processes, and greater transparency to enhance the scheme’s adoption and effectiveness.