Hon. Prime Minister
I have been thinking and have something to say on how to prevent it.
(1)Insurance Sector has got its boost with FDI and it must come forward to promote
(2)Farmer's loan be insured by the bank while lending under suitable insurance scheme,
to cover the loan amount plus a value of his labour he invests. A base price index of his
produce may be created to make valuation of his labour for that particular crop .
Synchronization of loan, labour and sales price of the produce must be created.
(3)In unfortunate case of loss in agriculture or due to market price fluctuations, the
farmer will get his loan adjusted from insurance (like crop insurance) and will also get
some money to sustain himself from loss of profit.
(4) The added advantage is that this insurance based loan repayment will prevent the
securitization of his land holding also which kills his family and makes landless after his
(5) Lastly, this scheme comes with no or little requirement of Governmental spending
for this purpose.
Hope this may help.
Always with you,
Always at your service for the Bharat.
Written for Pradhan Mantri ji's Man Ki Baat, 22 March 2015, through MyGov.