Analysis of Review of Literature on Pradhan Mantri Fasal Bima Yojana

Abstract

Agriculture, being first order economic activity, is highly susceptible to vagaries of climate. With small land holdings and low coping capacity, vulnerability of Indian farmer is high to deviations in monsoons. This vulnerability level becomes a serious concern during drought years. To provide some relief to farmers, States have evolved a few instruments, such as Input Subsidy, Minimum Support Price (MSP), Crop Insurance etc. Input Subsidy provides minimum support to farmers to continue with farming in subsequent post damage season and thus becomes operational only when there is a significant damage due to drought or excessive rainfall. Present study analyzes literature review on Pradhan Mantri Fasal Bima Yojana. This paper aims to provide a selective literature review of articles published in the last decade on Pradhan Mantri Fasal Bima Yojana. The review also found that this research lacked a theoretical underpinning and that more research studies are needed to empirically validate some of the key variables emerging in this area of research. The study concludes with a literature synthesis and recommendations for future research.