Indian Journal of Science and Technology

Abstract

Objectives: To check the awareness level of farmers towards crop insurance schemes available so far and their satisfaction level with those schemes. To check the acceptability of farmers towards rainfall derivatives Methods: To achieve the objective of study, we have conducted a survey among the farmers of Gwalior Chambal region in India. The sample size of survey was 470 farmers; we have selected 5 villages per tehsil and 2 farmers per village. We have used cross tabulation to analyse the collected data. Findings: This study shows that only few farmers were aware about the previously launched crop insurance schemes by government and out the farmers who were aware and used the previous schemes were not satisfied with them. This study also shows the positive response by farmers towards rainfall derivative products. The study shows that most of the farmers believed that rainfall derivative can be a very effective tool for hedging the rainfall risk. Novelty: This study is very much helpful to understand the acceptability of rainfall derivatives among the farmers of Gwalior-Chambal region. This study can be used as a recommendation to launch the rainfall derivatives in India.
Keywords: Rainfall risk; rainfall derivatives; crop insurance; hedging; weather index-based insurance; crop damage