Constraints and Suggestions Encountered by the Beneficiaries under Pradhan Mantri Fasal Bima Yojana in Tumkur District of Karnataka

Abstract

The Pradhan Mantri Fasal Bima Yojna (PMFBY) is a crop-based insurance policy designed to help farmers who have suffered crop loss or damage and stabilizes farm income. In the year 2020-21, a study was conducted in the Tumkur district of Karnataka as district had highest number of insurance units (895) as compared to other districts of the Karnataka state. The findings of the study revealed that delay in getting the claim was the prime constraint faced by the beneficiaries with a highest percentage of 81.67 per cent and as ranked first followed by less compensation offered (80.00 per cent) and getting claims is a complicated procedure (76.67 per cent). With respect to suggestions given by the beneficiaries were before the start of the next season, the claim should be distributed with a percentage of 87.50 and ranked first, followed by organizing awareness programs for farmers regarding PMFBY (78.33 per cent) and representatives from financial institutions and policy makers should monitor and supervise the assessment (72.50 per cent). The study bought out a number of various constraints faced by the farmers related to Crop Insurance Schemes. As a result, concerned officers should approach the State Government and request that they make earnest efforts to pay the claim before the start of the following season as well as conduct more training and awareness programs.