More than two months ago, I wrote about Indian farmers committing suicide in large number as they could not pay the loan. The condition is really miserable in western state of Maharashtra. Here, falling price of cotton has ruined many farmers. The worst thing is that the farmers have taken bank loan and they are now unable to repay it. Bad harvest, falling price and finally the pressure of bank loan became too much for many of the farmers and they sought some peace by committing suicide. I am quoting from a BBC report:
"Indian Prime Minister Manmohan Singh has vowed to help cotton farmers facing crisis in western Maharashtra state.
At least 745 farmers have committed suicide in the state this year because of crop failure and debt, reports say."
Actually committing suicide has become a daily activity for the desperate farmers. Every day one or two farmers are committing suicide. Even today, a farmer named Ganpat Bhagat (45), committed suicide by drinking poison. He had just over Rs 1 lakh of loan (just a little more than $2100) loan in his name. Well, you might think that 745 farmers needed to commit suicide to catch the attention of the Indian Prime Minister. However, I must admit that it is a far more complicated thing then you can imagine. I am happy that Mr. Singh has realized the gravity of the condition and he has come in the affected area on a two day visit. His government is now giving a special aid package to help the farmers.
The farmers suffered because getting new loan is very difficult and also irrigation facility is not up to the mark in this region. The farmers also found it difficult to get the cotton seeds at a reasonable price. At first, the state government and the central government did not care much as the suffering of farmers is a common phenomenon in the third world countries. When the number of death of farmers increased significantly, the media gave a lot of coverage to it and the government of Mr. Singh became serious and tried to find a good way to solve this problem. His relief package includes loan waiver of up to $555 for the farmers, interest free new credit and free seeds.
I am not impressed with the economic aid package of the Indian government. May be it will save some farmers of this particular region from committing suicide in the short term but Indian government must come up with a long term solution for this problem.
Indian government and the Indian private sector are these days too much preoccupied with outsourcing and economic growth. They are too excited with the idea of building a car for $2,100 and that is why they do not have enough time to think of a poor farmer who commits suicide for a loan of just $820.
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