Decision-Making Process of Farmers: A Conceptual Framework

With the development trend of agricultural commercialization and due to adverse events, the magnitude of loss is increasing and the farmers committing suicides. This study attempts to underscore the components, which impact the marginal farmers’ decision to accept Pradhan Mantri Fasal Bima Yojana (PMFBY). A pilot study reveals that only a few of the determinants is affected most in Burdwan District of West Bengal India. A conceptual model approach links the decision-making with a dynamic and in the light of real-world phenomena so that key factors and drives of decision-making can be related to the point of making better information about future economic and social reports.