I fail to understand why a farmer , who spends his entire wisdom, the entire energy, the entire time for a nation-making activities; contributing to National GDP, will commit suicide when an Insurance company and a welfare Govt is very well present before him ?
Economic empowerment is th solution , not loan waiver.
A non-farmer leading a nation can only think such absurd loan waiver scheme as a solution.
If possible govt should identify th problems of th defaulters, try to empower them according their potency, make them capable enough to repay the loan over a particular period of time and should give the farmer an interest holiday for that extra time he needs to repay the loan.
Responsibility should be fixed upon the banks or SHG or micro finance groups , to explain the govt , Why the farmer couldn’t repay th loan ?
Because financiers doesn’t give ( and shouldn’t give also) loan without studying a project or without ascertaining the return out of the invested loan amount.
We never consider this aspect, that’s the reason the SHGs/bankers are making bad finances with a motive to earn interest, And pressing hard for repayment, insulting the loanee socially, which leads a farmer to commit suicide.
To stop farmers suicide govt should give a standing instruction to the financiers giving loans to farmers , to take prior permission from the govt before forcing/insulting/ taking legal action on the farmers for repayment of loan.
For example if a financier has given loan for cotton cultivation , it must produce a certificate from the agriculture officer that the farmer has got the production as estimated/projected; got a market as expected. Have adequate crop insurance covers for such non happenings.
If any adverse findings are noticed then it is the Insurance company or the govt who has to make a provision in their budget to repay the loans ( of the nation builders i.e. The Farmers ) or commit suicide.
I fail to understand why a farmer , who spends his entire wisdom, the entire energy, the entire time for a nation-building activities; contributing to National GDP, will commit suicide when an Insurance company and a welfare Govt is very well present before him ?
In the worst case If anybody is to commit suicide then it should be the Insurance company or the Government or the financer NOT THE FARMERS.
- Laxmidhar Nayak ( 06.04.2019 )