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Research Journal of Humanities and Social Sciences
Year : 2017, Volume : 8, Issue : 3
First page : ( 345) Last page : ( 350)
Print ISSN : 0975-6795. Online ISSN : 2321-5828.
Article DOI : 10.5958/2321-5828.2017.00051.1

Agricultural Loan Waiver-A Study of Causes and Consequences

Ms. Gadre Ketaki Nitin*

Brihan Maharashtra College of Commerce, Savitribai Phule Pune University, Pune-411038, India

*Corresponding Author: Ms. Ketaki Nitin Gadre, Brihan Maharashtra College of Commerce, Savitribai Phule Pune University, Pune-411038, India, kngadre@gmail.com

Online published on 26 March, 2018.

Abstract

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.

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Keywords

Agriculture, Loan Waiver, Farmer Strike, Agriculture, Economics.

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