A safer future for the Indian farmer

Abstract

A transparent and scientific way of computing farm losses and a time-bound compensation mechanism can make farmers feel more confident and discourage them from treading the suicidal path. In recent months, there have been persistent instances of farmer suicides in India, and with the impeding El Nino impacting the agriculture sector, the situation could become worse. However, in view of the climatic changes and global warming, instances of financial distress in rural areas are expected to increase in future. In situations of financial distress, the farmer is uncertain of the compensation that he would receive and is generally under psychological pressure, despite having established regulatory financial institutions that specialise in the assessment and mitigation of risks. This distress can be addressed by transparently standardising the procedure for computing compensation and automating the process. Read more at: https://www.business-standard.com/article/opinion/charan-singh-c-l-dadhich-a-safer-future-for-the-indian-farmer-115061601257_1.html