Despite increasing allocated funds, the Union government has been unable to significantly improve the penetration of crop insurance in terms of enrolled farmers and insured areas. The ailing PM Fasal Bima Yojana (PMFBY) Needs a structural redesign. The scheme, in its present structure, could be a good profit-making policy for insurance companies. India’s agriculture sector, which provides employment to 50% of the labour force and contributes about 17% of the gross domestic product, currently faces multiple challenges. Smaller land holdings, unfavourable climate changes events, dismal public and personal investment, low monthly incomes, a high proportion of indebted farmers and unfavourable terms of trade between farmers and non-farmers are just some of the foremost proble...
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