An Analysis of the Challenges Faced by PMFBY Beneficiaries in Khurda District, Odisha

Author: Bhagyalaxmi Satapathy, Lalit Devidan, Jyotishree Anshuman and Sarbani Das

Download PDF

Abstract

Agriculture is the cornerstone of India's economy, yet it remains vulnerable to risks like adverse weather, pest infestations, and crop failures. To address these challenges, the Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched in 2016, providing financial protection against crop losses due to natural calamities and other risks. This study identified and described constraints in implementation of PMFBY in Khurda district, Odisha, a region prone to extreme weather events. Employing an ex-post facto research design, data were collected from 120 farmers across eight villages using structured interviews and questionnaires. Findings revealed key challenges such as, unfavorable attitudes toward the scheme, lengthy documentation processes, insufficient training programs and limited insurance service providers under social, financial, promotional, and operational constraints respectively. The analysis highlighted the need for enhanced communication, streamlined processes, robust training programs, and increased competition among insurers. Addressing these gaps can improve scheme accessibility, foster trust among beneficiaries, and maximize its potential to mitigate agricultural risks.

Keywords

Constraints, Insurance, Scheme, Risk, Unfavourable attitude

Conclusion

Six years after the implementation of the Pradhan Mantri Fasal Bima Yojana (PMFBY), notable gaps persist in farmers' awareness and access to its benefits. While the scheme holds considerable potential to mitigate crop losses and bolster agricultural resilience, its effectiveness is hindered by several challenges, including unfavorable attitudes, lengthy documentation requirements, inadequate training programs, and a limited number of insurance service providers. Under social, financial, promotional, and operational constraints respectively. To enhance the scheme's effectiveness, it is crucial for policymakers to implement targeted reforms that streamline processes, broaden awareness initiatives, and expand the network of insurance providers. Strengthening transparency, accountability, and farmer-centric reforms will foster greater trust, improve adoption, and ultimately ensure that PMFBY fulfills its objective of safeguarding farmers and promoting sustainable agricultural practices.

References

-

How to cite this article

Bhagyalaxmi Satapathy, Lalit Devidan, Jyotishree Anshuman and Sarbani Das (2024). An Analysis of the Challenges Faced by PMFBY Beneficiaries in Khurda District, Odisha. Biological Forum – An International Journal, 16(10): 186-188.