In its 2014 election manifesto, the Bharatiya Janata Party (BJP), among other things, promised to "take steps to enhance the profitability in agriculture, by ensuring a minimum of 50% profits over the cost of production". In his 2018-19 Union budget speech too, the Finance Minister Shri Arun Jaitley informed the Parliament that the 2014 election manifesto of the BJP had stated that the farmers should get at least 1.5 times the...
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A double-edge sword for farmers -- Loan waivers shrink credit supply to the farm sector -Kushankur Dey
-Financial Express Farm loan waivers—of more than Rs 850 billion in FY18 and FY19, announced by various state governments—are the flavour of the season. This can affect credit offtake and induce further stress for banks and amount to another agrarian crisis. Farm sector NPAs accounted for 16% of banks’ advances under the priority sector lending in October 2018. Post the early waiver-announcements, credit growth in agriculture and allied activities has been...
More »Kerala's alternative to farm loan waivers has lessons for India -Nidheesh MK
-Livemint.com Thanks to the debt relief commission, 11,354 Kerala farmers have benefited from a disbursement of over ?11 crore, and there are no farmer suicides in the state Ernakulam/ Bengaluru: Back in 2006, Kerala came face to face with an explosive situation. Ironically in a state dominated by Communist politicians, farming was dominated by export-oriented cash crops such as rubber and pepper, prices of which had plunged in the global market. It...
More »New MP, Chhattisgarh CMs' loan waivers to not benefit 3.5 million farmers -Jitendra
-Down to Earth The schemes Kamal Nath and Bhupesh Baghel announced soon after taking oath will not help those who take loans from money lenders Living up to their poll promises, Kamal Nath and Bhupesh Baghel, the newly elected chief ministers of Madhya Pradesh and Chhattisgarh, soon after taking oath, announced that their government will waive off farm loans. While the MP government will waive off loans of up to Rs 2...
More »Chhattisgarh CM Bhupesh Baghel waives farm loans, orders SIT probe into Bastar massacre -Joseph John
-The Times of India RAIPUR: Chhattisgarh chief minister Bhupesh Baghel on Monday announced to waive farm loans to the tune of Rs 6,100 crore of more than 16 lakh farmers and also decided to set up a Special Investigation Team (SIT) to probe the deadly maoist attack in Bastar. Addressing his maiden press conference after the swearing-in ceremony and subsequent first cabinet meeting, Baghel said it has been decided to waive off...
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