International Journal of Agriculture Extension and Social Development

author(s)
Avishek Kumar and Dr. Ameesh John Stephen

abstract
The Pradhan Mantri Fasal Bima Yojana (PMFBY), introduced in 2016, is one of India's most comprehensive crop insurance schemes aimed at mitigating agricultural risks and stabilizing farmer incomes. This study critically evaluates the effectiveness of PMFBY in the context of socio-economic impacts, awareness, satisfaction, and accessibility among farmers. Conducted in a rural agricultural region with a sample size of 120 Farmers, the research adopted a descriptive survey method to gather primary data on the socio-economic profiles of farmers and their experiences with the scheme. Analyzing the socio-economic characteristics of the respondents, assessing the role of PMFBY in reducing agricultural risks, evaluating farmer satisfaction and awareness regarding the scheme, and identifying the key constraints faced by farmers in accessing its benefits. The findings reveal that while a majority of farmers belong to small and marginal landholding categories with limited formal education, they face considerable agricultural risks due to climate variability and market fluctuations. PMFBY has provided a moderate level of risk coverage, but its impact is constrained by low levels of awareness, procedural delays in claim settlements, and limited institutional support. The study underscores the need for improved outreach, farmer education, transparent claim processes, and strengthening institutional mechanisms to enhance the effectiveness of PMFBY. Policy recommendations include deploying local extension services for awareness, leveraging digital platforms for real-time claim tracking, and ensuring timely compensation disbursements. This review emphasizes the critical importance of refining PMFBY's implementation framework to make it more inclusive, responsive, and beneficial to the agrarian community it aims to support.