A STUDY ON SOCIO ECONOMIC FACTORS EFFECTING FARMER’S SUICIDES IN TELANGANA STATE

BUSINESS MANAGEMENT

Agriculture is the largest sector of the rural economy and is a family enterprise, since 56% of its population is depended on agriculture in India. Due to the lack of information available and the sophisticated methods followed by the banking sectors has been one of the major causes for inhibiting the farmers from approaching the banking sectors. Even today farmers avail loans from money lenders at high rates of interest to meet their domestic and emergency requirements. Upon not being able to pay back the credit amounts these farmers are forced to take adverse steps. As per the National Crime Records Bureau of India, 13,754 farmers have committed suicides recently. Upon such conditions educating the farmers by making them realise the wide options available for them from the banking sector and the government organizations would be very helpful and would help them in not being victimized by the money lenders. The present study aims to envisage the farmers with respect to the above mentioned parameters. The various schemes and services provided by the government banking sectors is as follows. The Agricultural Credit Policy essentially lays emphasis on credit flow at the ground level through credit planning, adoption of region-specific strategies, and procedures and bringing down the cost of borrowing. Bank credit is available to the farmers in the form of short-term credit for financing crop production programmes and in the form of medium-term/long–term credit for financing capital investment in agriculture and allied activities like land development including purchase of land, minor irrigation, farm mechanization, dairy development, poultry, animal husbandry, fisheries, plantation, and horticulture. Loans are also available for storage, processing and marketing of agricultural produce. By enlightening the farmers in these above mentioned sectors, it would be possible to achieve the long term goals laid down by the government for the upliftment of the farming communities as well as would help in the growth of Indian economy which is majorly depended upon the agriculture sector.

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