PERFORMANCE APPRAISAL OF PMFBY VIS-À-VIS RWBCIS IN INDIA
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Authors
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S.M. KEERTHI KUMARA and D. SUJATHA SUSANNA KUMARI
Department of Commerce, Central University of Karnataka, Kalaburagi -585367
Keywords:
Agricultural sector in India, Crop Insurance, PMFBY, RWBCIS, and Agricultural Risk ManagementAbstract
The study aimed to overview the numerous crop insurance schemes in India from its initial schemes to
the present schemes. The study appraised the performance of “Pradhan Mantri Fasal Bhima Yojana” (PMFBY)
vis-a-vis “Restructured Weather Based Crop Insurance Scheme” (RWBCIS) from 2016-17 to 2018-19.The
growth rate analysis calculated to examine the number of farmers covered and the total agriculture area
insured under the schemes indicated that the number of farmers covered and total agricultural area insured
under PMFBY and RWBCIS was negative (-1.04% & -4.86%) and positive (1.47% & 8.22%) respectively. The
Analysis of variance (ANOVA) and Multiple Least Significant Difference (LSD) tests to compare the means of
farmers’ premium, gross premium, claims reported, and claims paid showed a significant difference among
the parameters under both the schemes. Multiple LSD results revealed a significant difference between farmers’
premium and other parameters under both the schemes. Also,there was a significant difference between gross
premium and other parameters under PMFBY only denoting that the insurance companies were more benefited
under the scheme.
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