This book highlights the study results that was undertaken to find out various facets of risk confronting in three predominantly rainfed districts of Andhra Pradesh, India. Broadly, the study has covered the following issues: 1. To characterize the nature and magnitude of risk in the semi-arid tropics; 2. To assess the attitudes of the farmers towards risk in the three rainfed districts of the state; 3. To study the trends in diversification of crop and livestock enterprises; 4. To evolve risk efficient farm plans to farmers of diverse resource endowments; 5. To assess the crop insurance and weather insurance programs to cover risks and suggest an appropriate mix of insurance schemes. This timely book is a one stop resource for agricultural economists, planners and researchers, policy makers and other stakeholders who are involved in Agricultural risk management.