Home Les bulletins GEAB Budget 2016: Farmers deep in debt, seek subsidies, help with insurance

Budget 2016: Farmers deep in debt, seek subsidies, help with insurance

MUMBAI: Government action to increase spending on irrigation and crop insurance is not enough to end a cycle of indebtedness that has led to thousands of farmer suicides, and a complete overhaul of credit and subsidies to farmers is needed, activists said.

Drought in many parts of the country has hit rice, cotton and other crops, and lower world commodity prices have added to the farmers’ plight. More than half India’s farming households are in debt, owing banks and moneylenders hundreds of millions of rupees, despite numerous loan write-offs by successive governments.

Tens of thousands of farmers across the country have killed themselves over the past decade, several farmers’ lobbying groups said… Read more : Economic Times, 25.02.2016

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