New Findings from Punjab Agricultural University Describe Advances in Risk Management (Addressing Agricultural Income Risks In India: Efficacy of Risk Management Options In Hazard-prone Regions): Risk Management

2022 MAR 01 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on Risk Management have been presented. According to news reporting originating in Punjab, India, by NewsRx journalists, research stated, “The present study discusses how formal risk management options (RMOs) have evolved in reducing agricultural income loss. It also considers the dependency of farm households on informal RMOs.”

Financial support for this research came from Indian Council of Social Science Research, New Delhi.

The news reporters obtained a quote from the research from Punjab Agricultural University, “Based on our analysis of a representative sample of 180 rural households, we conclude that the formal RMOs such as insurance and commercial credit markets need to improve. Addressing the complexity of claim assessment and the problem of information lop-sidedness in the insurance market should be a top priority for reducing inefficiency. Ascertaining the adequacy of claim amount in comparison to the loss is also important. The absence or underdevelopment of the formal market leads to efficient utilization of informal RMOs to reduce income risk.”

According to the news reporters, the research concluded: “In this regard, informal ex-ante RMOs may be advantageous to the stable rise of farmers’ income and development of the rural financial system in the long run.”

This research has been peer-reviewed.

For more information on this research see: Addressing Agricultural Income Risks In India: Efficacy of Risk Management Options In Hazard-prone Regions. Current Science, 2022;122(2):178-186. Current Science can be contacted at: Indian Acad Sciences, C V Raman Avenue, Sadashivanagar, P B #8005, Bangalore 560 080, India.

Our news correspondents report that additional information may be obtained by contacting Vinita Kanwal, Punjab Agricultural University, Ludhiana 141004, Punjab, India.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.18520/cs/v122/i2/178-186. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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