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Shekhawat, S., & kumari, O. (2023). Debt’s DoubleEdged Scythe: Assessing Farmer’s Indebtedness on Sustainability. KnE Social Sciences, 8(20), 827–838. https://doi.org/10.18502/kss.v8i20.14641

https://doi.org/10.18502/kss.v8i20.14641

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authors

  • Sanju Shekhawat

    Sanju Shekhawat

    Manipal University Jaipur, Rajasthan, India
  • Oum kumari

    Oum kumari

    2Jaipuria Institute of Management , Rajasthan, India

Published Date

  • Dec 7, 2023

Debt's DoubleEdged Scythe: Assessing Farmer's Indebtedness on Sustainability

KnE Social Sciences / The International Conference on Environmental, Social and Governance (ICESG 2022) / Pages 827–838

Abstract

Farmers’ debt is a major issue in India’s current agricultural environment. It is widely considered as one of the main obstacles to rural development. A decrease in agricultural output and a worsening of socio-economic opportunity disparities are the results. In the 77th cycle of the NSS, from January to December 2019, the situational assessment of agricultural households and land and holdings of households in rural India-2019 performed. In each of these surveys, information on household debt was gathered. Approximately 35% of rural families (45.1% of agricultural households and 21.5% of non-agricultural households) reported spending money on fixed capital. In metropolitan areas, 15% of families reported spending money on fixed capital formation (25.3% self-employed households, 11% other households), the debt percentage of cultivators is higher than that of non-cultivators in rural India. This demonstrates the farmer’s descent into debt. Government should initiate the over-come indebtedness not only urban area but also rural area of state. Government programs have a significant impact on farmers’ decisions therefore the study may offer advice to policymakers on effective ways to raise knowledge about debt reduction among farmers and rural residents. Financial incentives, such as a 0% interest rate, might go a long way toward enlightening rural farmers.


Keywords: NSS survey, 77

References
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