Vol. 7, Issue 7, Part I (2025)

The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched by the Government of India in 2016, aims to provide financial protection to farmers against crop loss due to natural calamities, pests, and diseases. This study evaluates the implementation and impact of PMFBY in Nagpur district, Maharashtra, with a specific focus on cotton cultivation. Data were collected from 80 farmers (40 insured, 40 non-insured) in Kalmeshwar and Hingna tehsils through structured interviews. The results indicate that insured farmers experienced higher productivity (27.37 qtl/ha) and lower cultivation costs (₹45,986/ha) compared to non-insured farmers (25.68 qtl/ha and ₹47,130/ha). The Benefit-Cost ratio was also significantly better for insured farmers (1.67 vs 1.34). Despite these economic advantages, issues such as claim settlement delays, low awareness (50%), and dissatisfaction with compensation (75%) were prevalent. The study concludes that while PMFBY has a positive effect on farm income stability and input usage, addressing operational challenges is critical for broader success. Recommendations include enhanced farmer education, improved transparency in damage assessment, and the use of digital platforms for faster claim disbursement.