Performance Analysis of National Agricultural Insurance Scheme (NAIS) and Pradhan Mantri Fasal Bima Yojna (PMFBY)

摘要

An effective crop insurance system is crucial in cushioning income losses for farmers, financing inputs for agricultural production, and increasing access to agricultural credit to boost agricultural productivity. Annual average farmers registered under NAIS (2000-01 to 2015-16) were 169.53 lakhs, while under PMFBY (2016-17-2019-20) that were quite higher that is 425.16 lakhs. The annual area insured under NAIS was 244.82 lakh hectares while under PMFBY, it was 491.48 lakh hectares. The annual sum insured under NAIS was IR/s 29219.05 crores, while this is in PMFBY was IR/s 193006.30 crores annually. The annual average farmers benefitted under NAIS and PMFBY were 53.16 lakhs (29.88% of total registered farmers) and 147.33 lakhs (32.67% of total registered farmers). The claims premium ratio was found as 4.26 under NAIS and 4.59 under PMFBY. It suggested by spending one rupee under PMFBY, farmers have received the claims or 4.59 rupees. The sum insured to farmers premium ratio was 38.70 under NAIS and51.57 under PMFBY suggests there is higher sum insured under PMFBY with given rupees. It is visible that the performance of PMFBY is higher over NAIS in terms of farmers insured, area covered, claims reported and paid. By creating the awareness and timely payment of claims, the coverage of PMFBY can be improved further.