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Why it is difficult to repay the loan by small farmers?

Posted by Basanti Devi 5 years, 8 months ago

CBSE > Class 09 > Social Science

2 answers

Pihu Bundela 5 years, 8 months ago

They have to take loan from large landowners for seeds and other implements.Sometimes,there are subsistence crisis or bad harvest . That's why they are not able to pay loans

0Thank You

Yogita Ingle 5 years, 8 months ago

Small farmers have no capital and have to arrange for capital by taking loans from large farmers on a very high interest rate. In addition, the banks do not provide them with loans because they lack proper documents and collaterals such as house, livestock or nay other property to guarantee to obtain a loan.

So the repayment of loan is crucially dependent on the income from farming. If there is failure in crop production then the repayment of the loan will become impossible. Hence, the small farmers have to sell part of the land to repay the loan. Credit instead of helping the small farmers made the situation still more worst and pushed the borrower into debt trap.

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Posted by King Krishna 9 months, 4 weeks ago

CBSE > Class 09 > Social Science