Can Loan Waivers Benefit Farmers Essay : Farmers prove to be one of the most important persons of the society and the country as without farmers we would not be able to derive our basic food need. Farmers are faced with many issues like unseasonal monsoons, droughts, crops being damaged due pest and insects and other various natural calamities. However, one of the biggest burdens is clearing loans been taken by these farmers to bring into new techniques and technologies for farming.
The Government on India has introduced several schemes for the farmers like zero interest rates on loans taken, purchasing of seeds on behalf of the farmers, helping introduce new techniques and technology to bring new innovations in farming methods. This has helped farmers benefit to large extent. Due to farmers suicidal tendencies and several cases of farmers suiciding as they are unable to produce good yield, as a result f which are unable to pay their loans in due time, the Government has resorted to waiving most of the loans of the farmers.
Farmers have benefited this through large extent, as the don’t have to worry about repayment of the loans which is taken care by the banks itself. This make the farmers take more loans when they are in need for purchases their farming equipment’s and other needs. These loan waivers on farmers, can have an adverse impact on the economy, as more the loans are taken by the farmers more a debt situation is created in the economy, as the bank are being liable to pay these loans from their own funds, thus they try and raise interest rates on loans given to the general public to infuse more capital into these lending bank, making it difficult for general public to clear their regular loans.
Loan waivers should not be the only solution for helping farmers produce more yield, but also providing them with sufficient farming techniques and modern farming equipment’s at minimal price with also benefit the farmers. Providing free Agri-Infrastructure, generating agricultural employment, providing free land for agricultural use, will help farmers and motivate them to yield more produce. As loan waivers prove detrimental to the country’s economy.
If loan waivers continue on largeEssay on Can Loan Waivers Benefit Farmers (400 Words) for Class 10, 12 Board. Can Loan Waivers Benefit Farmers Essay is also for Competitive exam aspirants. scale, farmers will begin taking advantage by acquiring huge loans from these lending institutions, thus making it difficult for these ending institutions to repay these loans through their capital generated, thus making them and the country face fiscal deficit situation.
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