Risk bearing capacity of farmers and their coverage under insurance - A study of national agriculture insurance scheme

Agriculture in India has a significant history. Today, India ranks second worldwide in farm output. The economic contribution of agriculture to India's GDP is steadily declining with the country's broad-based economic growth. Still, agriculture is demographically the broadest economic sector and plays a significant role in the overall socio-economic fabric of India. But, today, natural hazards are important issue in front of policy makers as well as farmers across the globe. Because, a natural hazard affects agriculture productivity, production as well as farm incomes at large scale and these are beyond the control of the farmers. Nowadays, there is a significant surge in natural hazards due to change in climate. Thus, protection of farmers against natural climate is a very important issue in the world along with India. The study is significant for potential beneficiaries from villages that do not have much awareness of the concerned scheme. It will also be helpful to small and marginal farmers to protect them against financial losses due to natural calamities and getting benefits under the scheme. It will also assist the insurers, bankers and policy makers for policy prescription and policy intervention.