Impact of crop insurance on farmers’ income in Pune district of Maharashtra

What is it about?

The study was conducted in Pune district of Maharashtra to assess the extent of marketing knowledge of respondents and to identify the problems faced under Crop Insurance Scheme. The financial institutions play a vital role in promoting crop insurance. The study revealed that the awareness for the crop insurance is increasing because of the financial institutions' initiatives. Due to the unawareness about the crop insurance scheme, the farmers are more depended on government in crop loss. So, farmers are to be promoted more about this so that it would facilitate in increasing their income.

Featured Image

Photo by Rajesh Ram on Unsplash

Photo by Rajesh Ram on Unsplash

Why is it important?

Current process is that the period between date of issuance of notification and cut-off date is hardly 15 days which is definitely insufficient period for farmers to know about and opt for it. In case of Agency of relief of loss out of 60farmers 19 were dependent on Government relief rather than taking crop insurance. 75 per cent farmers adopted crop insurance schemes due to awareness of financial institution. Only 18.33 per cent farmers replied the financial security as a reason for crop insurance. The crop insurance has an important role in increasing the farmers' income as the farmers will be less vulnerable to risks and uncertainties after doing crop insurance.