Dr Radhakrishnan report on agricultural indebtedness

The 60,000 crore debt waiver has been the most discussed topic after this Union Budget (after the issue over contingent liabilities).

There have been comments from all sections of the public (Shankar Acharya does a summary of the views).

The Finance Minister mentions in his speech of the Dr. R. Radhakrishnan report:

Sir, while I am confident that the schemes and measures that I have listed above will give a boost to the agriculture sector, the question that still looms large is what we should do about the indebtedness of farmers. Honourable members will recall that Government had appointed a Committee under Dr. R. Radhakrishna to examine all aspects of agricultural indebtedness. The Committee has since submitted its report and it is in the public domain. The Committee had made a number of recommendations but stopped short of recommending waiver of agricultural loans. However, Government is conscious of the dimensions of the problem and is sensitive to the difficulties of the farming community, especially the small and marginal farmers. Having carefully weighed the pros and cons of debt waiver and having taken into account the resource position, I place before this House a scheme of debt waiver and debt relief for farmers….

And then he suggests the proposal for debt waiver.

I am going through this report and on reading it I just ask one question- Have we progressed at all as a nation?

The same problems which must have been there at the time of independence (or even before) continue to exist. I have mentioned earlier over the crisis in the agri sector. I have even written a research paper on the subject which captures bulk of the reasons for indebtedness mentioned in the report.

However, I was not aware of several other issues like undernourishment has increased in farmers over the years (the ones who provide nourishment are undernourished) etc.

Most would criticise the political system in the country and say how the political parties have wasted resources in the country. I don’t really agree. The country as a whole has to share the blame. I had said this earlier as well.

Only in a country like India we see management graduates breaking records in salaries every year and have so many people die because of indebtedness.

Update:

1. I have done a research paper on the same.

4 Responses to “Dr Radhakrishnan report on agricultural indebtedness”

  1. Farming & Agriculture » Blog Archive » Dr Radhakrishnan report on agricultural indebtedness Says:

    […] Sarah Gehring […]

  2. Inflation is always an Indian phenomenon « Mostly Economics Says:

    […] actually points to an irony in India – the food prices are rising and farmers are dying. The reason is lack of reforms in the real economy and more so in rural economy. There have been […]

  3. Michael Says:

    If you are alarmed by the state of the economy, strength of the dollar and ballooning national and individual debt, then you are not alone. Help us try to restore the Thrift ethic to the American political and economic discourse. More than just being stingy, Thrift is the wise use of material resources, encompassing self-sufficiency, stewardship, and sustainability. Come to our conference-Confronting the Debt Culture- in Washington D.C. on May 12th and 13th to meet important individuals from the pro-thrift community. Speakers include U.S. Senator Sam Brownback (R-Kansas); Ken Eiden, CEO of Prospera Credit Union (Appleton, WI); Dr. John M. Templeton, Jr. and many more. Learn more at http://www.newthrift.org. To sign up, email register@americanvalues.org.

  4. venkatesh Says:

    please give me full report sir

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