-FirstPost.com Travelling across the country for the past five months to bring farmers’ voices to urban audiences through a programme called ‘Smart Agriculture’ - to be broadcast every Saturday and Sunday from 25 July on CNN-IBN - we have learnt that agriculture is not a low-profit activity. In fact, it returns more than double the amount of cash invested. Sandipan Suman, a 47 year-old agricultural sciences graduate and maize grower in Bihar’s...
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How loan sharks pull poor farmers into a debt trap -Naheed Ataulla & Anand J
-The Times of India As crops fail, banks don't deliver and the government falters, Mandya's farmers find themselves at the mercy of unscrupulous moneylenders Chenne Gowda has a Rs. 4 lakh albatross around his neck. The 55-year-old sugarcane farmer from Chikka maralli village in Pan davapura taluk, Mandya district, took the loan from private moneylenders but has no idea how he'll repay. His crop, on two acres, is wilting in the field...
More »A subsidy and some questions
-The Hindu The Central government’s decision this week to extend the interest subvention scheme on bank loans given to land-owning farmers at 7 per cent is essentially a welcome move. This is especially so in a context where there is no real clarity on how the current monsoon will turn out to be, running at a deficit of 7 per cent as it does currently. With an additional subvention component of...
More »Decoding Karnataka debt trap: Rise of a new breed of private moneylenders -Sowmya Aji
-The Economic Times MANDYA: A new breed of moneylenders has pushed farmers of moneyed Mandya district in Karnataka into an endless debt trap, leading to mounting suicides, even as the institutionalised credit system has failed them. The system is so well entrenched that the borrowers themselves are taking steps to protect the moneylenders from a government crackdown on the practice. Farmers — big, small and marginal — have taken loans from private...
More »1 in 3 farmer suicides in Vidarbha over Rs 10,000 debt: Study -Kunal Purohit
-Hindustan Times Mumbai: Just how much debt does it take for a farmer in the Vidarbha region of Maharashtra to take the extreme step of killing himself? The shocking findings of a new study reveal it could be as little as Rs 10,000. Days after fresh data from the National Crime Record Bureau (NCRB) revealed that Maharashtra has the highest number of suicides by distressed farmers among all states, a new analysis...
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