Thursday, 7 May 2015

Vasanth Nagulakonda

Crop Insurance: Getting loans to farmers insured by banks.

Getting loans to farmers insured by banks.

Till date, political parties in India made financially sensitive promises of waiving the farmers' loans once they form the government.

I believe for making a permanent impact on the agricultural sector, we must delegate the responsibility of waiving loans to banks by making banks insure every loan they provide to farmers with RBI. Just like when RBI issues new currency notes for an exchange of a spoiled currency note, we can assume the loan amount given to farmers who lost the crop has burnt the money and so the RBI can reprint that amount of currency and pay the loan amount back to the bank. This way poor Annadata will not suffer losses and avoid committing suicide. Let us save our farmers. Please accept my sincere apologies, if this idea is not useful.

GOD bless All.

Good NEWS: Around 7.2 million farmers in Telangana would be given Rs 4,000 an acre each during the kharif and rabi seasons, which means each farmer would get Rs 8,000 an acre each year. The move is seen as a populist step by chief minister K Chandrasekhar Rao to woo farmers before the assembly elections due in April 2019. KCR, as he is popularly known, has already started schemes for free and round-the-clock power supply to farmers. Hats off to Telangana CM Shri KCR Ji. >>>

Also visit Pradhan Mantri Fasal Bima Yojana - Crop Insurance. I thank our PM Narendra Modi for getting farmers insured with this scheme in India.