Two years ago, Ghanshyam from Soni village in Mandsaur district of Madhya Pradesh had taken a loan of Rs 100,000 from a moneylender at an annual interest rate of almost 18 per cent for replacing his old farm equipment. He had hoped to repay the loan in time from the good rabi harvest from his two hectares.
In the last two years, few crop that Ghanshyam had cultivated fetched him substantial returns to wipe off his debt. Dejected, he now plans to sell a portion of his land to clear the dues. “Chana, which used to be sold at Rs 6,000 per quintal, barely crossed Rs 3,000 this ...
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First Published: Sun, June 10 2018. 20:24 IST
