When a farmer commits suicide for Rs 3681

07 Mar


Average debt of farmers who committed suicide between 2001 to 2006 in the Washim district of the Vidarbha RegionAverage IndebtednessWhy would the farmers need to commit suicide. They can borrow the money from the banks. Ok, so lets look at how the loans work. A NABARD loan @ 5.75% becomes 11.75% by the time it gets to the farmers?NABARD loansOk, but why borrow money from money lenders, who charge even higher interest rates?WhyMoneyLenders As evident from the above demand and supply, there is a gap of 72.45 crores, which is where the money lenders come in. The source of the above information is a report published in 2006 by the planning commission which undertook a detailed analysis of suicide in Vidarbha region. The situation hasn’t changed much since the number of suicides in Vidarbha region are still very high, in fact, one of the highest in the country. Levels of distress of farmers…

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Posted by on March 7, 2015 in My Success Stories


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