Debt relief programs

Debt relief programs/ Only 1 out of 3 farmers get benefit of debt waiver, startled by these reports

Debt relief programs: The ruling party in Rajasthan, Madhya Pradesh and Chhattisgarh lost in the assembly elections and the challenges of the agricultural sector in the last few years due to the peasant movement in the country, the challenges of agriculture are a national issue. It was also important because the agriculture sector is 49 percent of the total employment in the country and around 70 percent of the country’s population is based on this.

Despite this fact, the agriculture sector has remained marginal. At the same time, this issue is limited to farmers’ debt waiver, more minimum support price, and recently the Raithu Bandhu scheme of Telangana, due to political gains and populist policies.

We need to understand that the problem of farmers is not born overnight. The Policy Commission’s 2017 report, including several such initiatives to double the income of the farmers, is clear from the fact that the problem of farmers started in 1991-92. By this time both the agriculture and non-agricultural sectors were developing at the same level.

Learn what has been done to remove the farmers from this vortex.

Some farmers benefit from debt waiver, neutral for landless(debt relief programs)

Debt waiver is not a cure for any disease, but there is a way to relieve some farmers from immediate effect. The benefit is only to those farmers who have taken institutional credit. According to the previous NSSO 2013, 52 per cent of agricultural families in the country are in debt and only 60 per cent of the households have taken loans from any institution. Therefore, it is clear that 31 per cent (60 per cent of 52 per cent) agricultural families are expected to benefit from the debt waiver.

The same conclusion comes from NABARD’s 2015-16 report. According to the report, 43.5 per cent of the farm households took loans during this year (although 52.5 per cent of households were in debt) Of these, 60.4 per cent of households took loans from any institution, while 9.2 per cent of households took loans from both institution or non-institutional sources. Apart from these figures, only 30 families get the benefit of waiving off (69.5 percent of 43.5 percent).

The truth that is hidden in these figures is that no benefit of debt waiver does not reach landless farmers. Their number of figures is 56.41 percent of the total rural households.

Investment is low and steadily decreasing(Debt relief programs)

The biggest challenge of the agricultural sector is the low investment and there is also a continuous decrease in investment. According to the Agricultural Statistics, 2017, the government investment in the agricultural sector between 0.3 to 2011-12 has been 0.3 to 0.4 percent while private sector investment has declined from 2.7 percent to 1.8 percent. As a result, the total investment in the sector has come down from 3.1 per cent in 2011-12 to 2.2 per cent.

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