Benchmarking farmers’ satisfaction with special reference to Pradhan Mantri Fasal BIMA Yojna

The Pradhan Mantri Fasal Bima Yojna (PMFBY) was launched in 2016 with an impetus on crop sector which replaced existing crop insurance schemes in India. This scheme focuses on adoption of modern technology for the purpose of yield estimation and increasing the crop insurance penetration in India. The purpose of this study is to explore the determinants to benchmark the satisfaction of farmers with special reference to PMFBY. Data were collected by employing schedule from Lucknow and Kanpur districts and 181 responses were used for analysis. This study is exploratory, descriptive and cross-sectional in nature. A twelve 12-item scale was subjected to Confirmatory Factor Analysis (CFA) resulting in farmers’ satisfaction. Further, PMFBY can be measured or reasoned along four facets i.e. services, complaint redressal, rendering of services and transparency. The scale developed with above process may prove reliable and valid in measuring the satisfaction attributes of farmers. This study is expected to provide the sound base to government and insurance institutions towards formulating the strategies for effective implementation and assessing satisfaction level of farmers.