International Journal of Social Science Research (IJSSR)

Performance of PMFBY in Haryana: A Study on Claim Settlement Efficiency and Premium Gaps

The agricultural sector is the backbone of India’s economy and plays a crucial role in sustaining the livelihoods of millions of people. In a predominantly agrarian society, a significant part of India's population depends on the agricultural sector for their livelihood. This insurance scheme provides financial security and income stability, thereby improving the livelihoods of farmers in Haryana. This study used secondary data from the Haryana Agriculture Department and the PMFBY website to report the performance of the Pradhan Mantri Fasal Bima Yojana in the Ambala, Kaithal, Hisar, and Gurugram districts of Haryana. The study is entirely based on secondary data from 2018 to 2024. Study the data of the Rabi and Kharif seasons simultaneously in crops, areas, and claim, premium settlements. The performance of Hisar district has been continuously higher in terms of total cultivators covered, total area covered, number of beneficiaries, claim amount, premium, and gross premium. Gurugram district had a lower figure overall. The Kaithal district performed better than the Ambala and Gurugram districts in terms of total farmers, area covered, and gross premium. However, the Gurugram district had significant coverage rather than a decline in the total number of beneficiaries. Keywords: Insurance, PMFBY, claim, Efficiency, Premium.