Recently, various state governments have announced farm loan waiver worth Rs. 850 million. This can negatively impact banks’ credit offtake (commercial loans) and cause further stress and amount to another agrarian crisis.
Recently, farmers from various regions of the country marched to Delhi to register their protest against the government’s neglect of farmers’ demands. Poor earnings of the farmers led to the never-ending distress in the agricultural sector and this resulted in the increasing number of farmer suicides. These worrying realities call for an appropriate policy response and sustainable alternatives to the current agricultural methods.