Influence of Weather Index based Insurance (WIBI) on Financial Stability of Cotton Farmers in Chitradurga, Karnataka-A case study
Keywords:
Weather Index based Insurance, risk, Crop insurance, financial stabilityAbstract
India is the second largest cotton producer and consumer in world. Though India ranks first in area its production is very low when compared to other major cotton producing countries. This is due to uncertainty in weather condition which is due to Natural calamities like rising temperatures, erratic rainfall pattern, increase in the severity of droughts, floods and cyclones cause huge losses in the production of cotton. To overcome this farmers have to opt for insurance like WIBI.
In the present article authors report the Influence of Weather Index based Insurance (WIBI) on Financial Stability of Cotton Farmers through random sampling and questionnaire with respect to gender, age, education, land owned and experience. The results obtained are highly encouraging and further work is been carried to know the influence of WIBI on farmers livelihood, to estimate whether WIBI is suitable for cotton crops, to analyze the impact of WIBI scheme on cotton crops etc.
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