Role of Pradhan Mantri Fasal Bima Yojana (PMFBY) in Agricultural Development and Farmer Welfare in Tamil Nadu

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a significant insurance scheme designed to protect Indian farmers against crop failure and environmental uncertainties. This study investigates the program’s influence on encouraging agricultural development and enhancing farmers’ welfare in Tamil Nadu. This research examines key elements, including policy implementation, farmer participation, and the influence of insurance coverage on income stability, utilising insights from an extensive literature review and secondary data analysis. The results indicate that PMFBY has enhanced financial stability for numerous farmers, however it encounters ongoing obstacles such as insufficient awareness, bureaucratic inefficiencies, and inconsistent regional outreach. These findings underscore the need for targeted interventions to enhance program effectiveness and expand its benefits for the most disadvantaged farmers. This research advances the discourse on agricultural insurance in India, offering essential insights for the reform and strengthening of systems that support farmers.