Perceptions and Awareness of Pradhan Mantri Fasal Bima Yojana among Insured and Non-insured Farmers in Haryana, India: Enhancing Agricultural Risk Management

Abstract

The research paper employed a sample of 600 households from Haryana, comprising 300 insured and 300 non-insured farmers, to ascertain their perceptions regarding crop insurance. Methodologically, the researcher applied tabular analysis alongside elementary statistical techniques such as measures of central tendency and percentages for data examination. The findings revealed a significant lack of awareness among non-insured farmers regarding crop insurance, with nearly half of them being uninformed. Conversely, among insured farmers, the primary motivation for obtaining crop insurance stemmed from either bank compulsion or the pursuit of financial security. Concerns regarding premium rates were evident, with a majority perceiving them to be excessive. Recommendations for the enhancement of customer satisfaction and the promotion of greater farmer participation included the proposition of tailored insurance offerings and the mitigation of concerns pertaining to premium rates