Willingness to buy agricultural insurance by progressive farmers in Punjab state of India
| Autor: | Lopamudra Mohapatra, Ahmad Mubasher Wahab Zada |
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| Rok vydání: | 2019 |
| Předmět: | |
| Zdroj: | Current Advances in Agricultural Sciences(An International Journal). 11:119 |
| ISSN: | 2394-4471 0975-2315 |
| DOI: | 10.5958/2394-4471.2019.00023.6 |
| Popis: | Agricultural insurance is considered as an important mechanism to effectively address the risk to output and income resulting from various natural and manmade events. Weather risk is a major cause of income fluctuations for rural households in developing countries. Weather based micro insurance is a powerful solution to weather related risks, but it is not widespread in use in the developing world. This paper attempts to determine the willingness to buy WBCIS & PMFBY among the progressive farmers of Punjab. The opinion of the farmers referred to the degree of acceptance of the new agricultural insurance scheme PMFBY and WBCIS and the degree of willingness to buy the insurance product by the progressive farmers of Punjab. The Average Mean Score (AMS) of all the factors was found to be 2.24 and mean score for coverage of crops and farmers was 2.31 which was little more than the AMS of 2.24 thus, this factor determined more willingness of the farmers to buy the product. The Average Mean Score (AMS) of all the factors in WBCIS was found to be 2.27. This revealed that the restructured WBCIS has comparatively preferred more over PMFBY The degree of acceptance and willingness to buy the WBCIS is found to be more as compared to PMFBY by the farmers. After the appropriating of WBCIS for Punjab state it can be recommended into the agricultural policy, which can also be on adaptation strategy for the changing climate. |
| Databáze: | OpenAIRE |
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