Crop Insurance in India: A Mathematical Review

Jain, Vidyottama; Selvamuthu, Dharmaraja

doi:10.1007/978-981-13-1954-9_7

Cited by 2 publications

(3 citation statements)

References 16 publications

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“…Moreover, through premium subsidy still the insurance coverage was very low and lack of awareness at farmer level is main constraint behind the low coverage of crop insurance (Mukherjee and Pal, 2019). Theoretically, crop insurance is an effective risk transfer tool but practically crop it is the costlier method for the government to transfer the agriculture risk from farmers to insurers and government (Jain and Dharmaraja, 2019). An insured farmer may not get claim payout for suffered crop losses because insurers confirm claims of crop losses by the data gathered through crop cutting experiments at the block level.…”

Section: Discussionmentioning

confidence: 99%

“…Ward and Makhija (2018) studied empirical exploration drought risk management for the farmers of Odisha state and found that farmers are less interested in crop insurance. Jain and Dharmaraja (2019) proposed a mathematical model for better crop insurance penetration that can cover the specified risk. Bhoi and Dadhich (2019) suggested a model of composite insurance scheme to cover the risk of market failure and crop failure.…”

Section: Review Of Literature On Agriculture Insurance In Indiamentioning

confidence: 99%

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Development, present status and performance analysis of agriculture insurance schemes in India

Singh

Agrawal

2020

IJSE

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PurposeAgriculture insurance is the panacea for the farming community. Many policy interventions were implemented for stimulating agriculture insurance access to farmers in India. However, access to agriculture insurance constantly remained one of the major challenges to Indian policy planners. The goal of the present paper is to explore current policy interventions in the area of agriculture insurance in India.Design/methodology/approachThe present paper reviews and analyzes the evidence literature through a content analysis method on development and performance analysis perspective of existing agriculture insurance schemes in India.FindingsAgriculture insurance is a significant risk management policy, but this is not easily reachable to the majority of farmers in India. The government of India introduces a novel agriculture scheme every decade, but every crop insurance scheme was inconsistent and ineffective owing to operational defects. Agriculture insurance in India is still developing in terms of coverage, scope, and exposure, but farmers' dissatisfaction about agriculture insurance turned out to be a negative word of mouth. Insurance illiteracy and farmers' preference for agriculture relief payments are the main reasons for limited access to agriculture insurance. The current crop insurance schemes are improperly operated because of implementation issues at the state level.Research limitations/implicationsThis paper will be useful for researchers and academicians to analyze the past and present status of crop insurance in India.Originality/valueThe paper is the unique work of the authors as it has attempted to present India's journey with agriculture insurance. An effort is made in the present study to provide a comprehensive and holistic developmental and performance analysis perspective of agriculture insurance in India.

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Section: Discussionmentioning

confidence: 99%

Section: Review Of Literature On Agriculture Insurance In Indiamentioning

confidence: 99%

Development, present status and performance analysis of agriculture insurance schemes in India

Singh

Agrawal

2020

IJSE

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“…According to (Ward and Makhija, 2018), farmers in Odisha state are less interested in crop insurance, which performed an empirical exploration of drought risk management for them. Jain and Dharmaraja (2019) suggested a mathematical methodology for improving crop insurance penetration and risk coverage. Bhoi and Dadhich, (2019) proposed a composite insurance plan concept to mitigate the risk of market distortion and crop failure.…”

Section: Brief Review Of Crop Insurance In Indiamentioning

confidence: 99%

Insights into Crop Insurance in the Agriculture Industry in India: An Overview

Banita¹,

Gurung²

2023

BKAP

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Agriculture is dangerous in India due to output and price instability. Crop insurance helps farmers by stabilizing agricultural profits, encouraging them to farm, lowering debt and reducing the need for crop failure assistance. This study examined crop insurance schemes in India and their effects on farmers. Based on terms like crop insurance, Insurance, Pradhan Mantri Fasal Bima Yojana we collected 175 papers by using various database such as Google Scholar, Web of Science and EBSCO host along with government data. Each manuscript’s title determined its initial relevance. Crop insurance is an important risk management tool, but most Indian farmers can’t afford it. The Indian government produces new agricultural policies every few years, but crop insurance programmes have been inconsistent and inefficient due to operational flaws. Agriculture insurance in India is still growing so that further research is need to be done to investigate the potential of an agriculture insurance market in India that is both financially sustainable and economically advantageous and successfully mitigates farmers’ risks.

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Crop Insurance in India: A Mathematical Review

Cited by 2 publications

References 16 publications

Development, present status and performance analysis of agriculture insurance schemes in India

Development, present status and performance analysis of agriculture insurance schemes in India

Insights into Crop Insurance in the Agriculture Industry in India: An Overview

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