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Agricultural Loan Waiver-A Study of Causes and Consequences
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This article is written on the background of recent strike by farmers in Maharashtra from 1st June 2017. We examined the arguments in favour and against loan waivers to farmers taking into consideration the major issues. We understand that there are various reasons for low profitability of Indian agricultural sector- unfavourable terms of trade, too much dependence on weather conditions, lack of access to technology, non-availability of large acres of land for modernization of agricultural methods etc. Although, agriculture is a priority sector for India, it cannot be made dependent on Government for smooth functioning. Loan waiver is a temporary solution and unlikely to lead to sustained development of the sector. We have also suggested some long term solutions here.
Keywords
Agriculture, Loan Waiver, Farmer Strike, Agriculture, Economics.
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