Advanced International Journal for Research

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Determinants of Savings and Investment Decisions among Semi-Medium and Medium Farmers in Western Maharashtra

Author(s) Snehal J. Mirajkar, Dr. Prachi Pargaonkar
Country India
Abstract The choices made by agricultural households in saving and investing are crucial for improving their economic resilience and financial security. But this decision is influenced by a mix of financial, socio-economic, demographic and risk factors. This study investigates the factors affecting savings and investment among semi-medium and medium farmers, Western Maharashtra. A structured interview schedule was used to conduct an exploratory study amongst 50 farmers, comprising 33 semi-medium farmers with 17 being medium farmers. The study included motives of savings, financial constraint, socio-economic constraint and the effect of demographic and socio-economic factors on the savings and investment result. Descriptive statistics, normality tests, Friedman tests and Bonferroni-adjusted pairwise comparisons, Mann–Whitney U tests, Kruskal–Wallis H tests, and Spearman's rank-order correlation were used to analyse the data. The results show that health and medical emergencies, risk factors and safety and security were the most significant factors affecting savings and investment decisions (M = 4.06, 4.04 and 4.00 respectively). There are significant differences between the factors influencing the savings and investment decisions (χ²(8) = 48.898, p < 0.001) and investment preferences (χ²(6) = 52.136, p < 0.001). There was no significant difference between farmers in semi-medium and medium category in terms of financial constraints and socio-economic constraints. Likewise, there were no significant demographic and socio-economic factors associated with the key savings and investment results. The study underscores the role of financial security, risk factors, household requirements, and financial awareness in comprehending the farmers' financial behaviour and offers valuable lessons for enhancing the financial capability of the rural population and financial planning for farmers.
Keywords Savings Behaviour; Investment Decisions; Semi-Medium Farmers; Medium Farmers; Financial Decision-Making; Financial Literacy; Socio-Economic Constraints; Investment Preferences; Rural Finance; Western Maharashtra
Field Sociology > Economics
Published In Volume 7, Issue 4, July-August 2026
Published On 2026-08-31
DOI https://doi.org/10.63363/aijfr.2026.v07i04.7572
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