Citation:

Dr M. Santhoshkumar, Srinivasan. "Prospects and Challenges of Crop Insurance in India: An Analytical Study" International Research Journal of Economics and Management Studies, Vol. 5, No. 8, pp. 119-124, 2026. Crossref. https://doi.org/10.56472/25835238/IRJEMS-V5I8P111

Abstract:

Crop insurance plays a crucial role in mitigating risks faced by farmers due to climatic uncertainties. This study analyses the prospects of crop insurance policies in India, examines the challenges in implementation and adoption, and provides policy recommendations for improvement. Using data from Agricultural Statistics at a Glance 2021, the study evaluates trends in coverage, premium collection, and claim settlements under schemes like PMFBY and RWBCIS.

References:

[1] Nair, Reshmy. (2010) A Weather-based Crop Insurance in India: Towards a sustainable crop Insurance Regime? Economic and Political Weekly 45: 73–81
[2] Santhoshkumar, HemRaj, Srinivasan (2021). "Crop Insurance Policies in India: An Empirical Analysis of Pradhan Mantri Fasal Bima Yojana".Risks Journal (2021) 9, 191.
[3] Shashi Kiran A. S. & K.B. Umesh (2012) "Crop Insurance- Strategy to minimise risk in Agriculture. "International Association of Agricultural Economists (IAAE) Triennial Conference, Foz do Iguaçu, Brazil, 18-24
[4] Agricultural Statistics at a Glance 2021
[5] Manojkumar K Sreekumar B., Ajithkumar G. S.(2003) "Crop Insurance Scheme: A case study of banana farmers in Wayanad district" Kerala Research Programme on Local Level Development Centre for Development Studies Thiruvananthapuram.
[6] Nilabja Ghosh S.S. Yadav (2008) "Problems and Prospects of Crop Insurance: Reviewing Agricultural Risk and NAIS in India". INSTITUTE OF ECONOMIC GROWTH UNIVERSITY OF DELHI ENCLAVE NORTH CAMPUS, DELHI – 110 007
[7] Komal Sajwan (2022) "Crop insurance in India: Policies, challenges and way forward". International Journal of Commerce and Economics.
[8] Dr I. Maruthi "UPTAKE ANALYSIS OF PRADHAN MANTRI FASAL BIMA YOJANA IN
[9] KARNATAKA". Agricultural Development and Rural Transformation Centre, Institute for Social and Economic Change, Dr V.K.R.V. Rao Road, Nagarabhavi Bangalore – 560072
[10] https://en.vikaspedia.in/viewcontent/schemesall/schemes-for-farmers/crop-insurance-schemes
[11] https://www.sbigeneral.in/blog-details/crop-insurance-guide-for-farmers
[12] https://kshema.co/top-10-benefits-of-crop-insurance-for-farmers/
[13] https://www.plugandplaytechcenter.com/insights/importance-sustainable-agriculture
[14] https://doi.org/10.3390/risks9110191.ScholarWorks@UARK

Keywords:

Crop Insurance, Climate Risk, Prime Minister's Crop Insurance Scheme, Climate Based Crop Insurance Scheme, National Crop Insurance Scheme, Agricultural Policy, Economic Stability.