Paper Title
Global Best Practices in Agricultural Insurance: Policy Reforms and Strategic Lessons for India’s Crop Insurance Framework
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Registration ID: IJNRD_328079
Published ID: IJNRD2608355
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Keywords
Agricultural insurance, PMFBY, Crop insurance, Climate resilience, Agricultural economics, Public policy
Abstract
Agricultural insurance has become an important component of public policy in countries confronting climate volatility, farm income instability, and pressure on rural credit systems. This paper examines global best practices in agricultural insurance and draws strategic lessons for reforming India’s crop insurance architecture under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The study is empirical and relies on secondary data from official government sources, parliamentary annexures, policy reports, and institutional evaluations. The main analytical period for India covers 2022–23 to 2024–25, while the comparative review draws on international evidence from the last two decades. The paper combines comparative institutional analysis with descriptive empirical estimation based on published state-wise PMFBY data, constructing indicators such as enrolment growth, claims-to-farmer-premium ratios, settlement ratios, and a composite state-level policy performance index. The findings show that India has achieved exceptional programme scale and strong fiscal leverage for insured farmers, but implementation outcomes remain uneven across states. Recent reforms such as the National Crop Insurance Portal, DigiClaim, YES-TECH, WINDS, and escrow-based premium arrangements indicate a move toward data-driven, accountable administration, yet pending claims and incomplete risk layering continue to weaken developmental effectiveness. Comparative evidence from the United States, Spain, Italy, and China suggests that successful agricultural insurance systems do not depend on premium subsidy alone; they require transparent data ecosystems, differentiated products, rapid settlement, and integration with resilience-building measures. The paper argues that India should shift from a subsidy-centred approach to a layered risk-management framework that is more closely linked to adaptation policy, state-specific design, and rule-based intergovernmental finance.
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How To Cite (APA)
Dr. P. Rajasimman (August-2026). Global Best Practices in Agricultural Insurance: Policy Reforms and Strategic Lessons for India’s Crop Insurance Framework. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 11(8), d540-d549. https://ijnrd.org/papers/IJNRD2608355.pdf
Issue
Volume 11 Issue 8, August-2026
Pages : d540-d549
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Paper Reg. ID: IJNRD_328079
Published Paper Id: IJNRD2608355
Research Area: Other area not in list
Author Type: Indian Author
Country: Chennai – 600 021., Tamil Nadu, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2608355.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2608355
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