-TheWire.in Private moneylenders are a major source of loans across the region, and with the collapse of banking in rural areas, their role has only grown. Baliram Kadpe is critical of the Maharashtra government. “Farmers do not get the minimum support price [for their crops, from the state],” he says with concern. “And it is tedious for them to acquire crop loans.” Kadpe believes if the state ensures that farmers have access...
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Prevent farmers' suicides rather than give compensation, SC tells TN -Krishnadas Rajagopal
-The Hindu "Your job is to take steps to prevent farmers’ suicides and not go around distributing compensation after the suicides", the Supreme Court told the Tamil Nadu government on Friday. The court said the “actual job” of the government is to “directly address the ground reality of farmers suicides”. “Your approach has to be preventive and not compensatory,” a Bench of Justices Dipak Misra and A.M. Khanwilkar told Additional Solicitor General P....
More »Industry, not farm loans, responsible for majority of NPAs: report -Beena Parmar
-MoneyControl.com As per data from 2011 to 2016, the agriculture loan NPAs stood between 4-6 percent while the industry NPAs have consistently increased sharply from nearly 3 percent to 12 percent in 2016. Despite criticism on farm loan waivers, a data study shows that the increase in non-performing assets (NPAs) is contributed more by the industry than the agriculture sector. According to a study report by Anand Rathi, in terms of contribution to...
More »How farm loan waivers can actually benefit the economy -Charan Singh
-The Financial Express The fastest-growing major economy of the world cannot ignore its farmers as there is a genuine need to help the farming sector which is suffering from stress on account of indebtedness. The banking industry is also not able to extend credit to those farmers who are in default. A loan waiver can help bankers to renew the loans, and farmers can use the borrowed money for production of...
More »The hazards of farm loan waivers -Tanika Chakraborty and Aarti Gupta
-Livemint.com Research provides evidence that a blanket farm loan waiver scheme is detrimental to the development of credit markets The Bharatiya Janata Party (BJP) won the 2017 state elections in Uttar Pradesh with a thumping majority and once again, the state government has a debt-waiver package ready to be implemented. The BJP’s electoral manifesto had committed to write off loans of small and marginal farmers, which would approximately cost the government Rs37,000...
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