Department of Extension Education, College of Agriculture, Punjab Agricultural University, Ludhiana-141004, Punjab
Online published on 5 December, 2018.
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 Weather based Crop Insurance Scheme (WBCIS) and Prime Minister Fasal Beema Yojana (PMFBY) among the progressive farmers of Punjab. The study 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.
