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Farmers badly hit by cash crunch
Utnoor: Farmers, along with the poor, small traders and employees in the Agency areas of Utnoor, Narnoor, Indravelli, Jainoor and Sirpur-U are facing problems even after 28 days in securing sufficient amounts of cash following the scrapping of the big currency notes.
Utnoor: Farmers, along with the poor, small traders and employees in the Agency areas of Utnoor, Narnoor, Indravelli, Jainoor and Sirpur-U are facing problems even after 28 days in securing sufficient amounts of cash following the scrapping of the big currency notes.
They are forced to wait in serpentine queues at several banks and ATM centres for hours. After some time, the ATMS go cashless and the poor farmers have to return empty handed.
Demonetisation appears to have had a serious impact on the agricultural sector, as bankers are not extending crop loans to farmers during the Rabi season, as they are busy tackling various issues arising out of cash shortage.
They are refusing to make available Rs.40,000 required as investment in the case of a small farmer holding four-five acres of land.
Consequently, the repeated trips of ryots to banks are not yielding fruit, seriously impacting their hopes on raising Rabi crops, including cotton and soya bean, which are cultivated in more areas in the Utnoor Agency areas.
Crops, like green gram, wheat and maize, are grown more in the Utnoor Agency areas.
Farmers like Rajanna and Jaivanth Rao told The Hans India here on Wednesday that they were facing hardship in raising capital for taking up cultivation during the Rabi season, as they have already prepared the required groundwork.
Besides, they are unable to withdraw their own money lying in banks in view of the scarcity of cash. As a result the crop area is likely to fall.
Farmer like Prabhudas and tribal leader Marsukola Tirupati while speaking to The Hans India in the Utnoor Agency area use the amounts received after selling their Kharif crops of cotton and soya for taking up the Rabi activities.
They have been receiving cheques from traders and cash in their separate accounts, if they sell at the government procurement centres. The cheques are being encashed only after waiting for one week, they lamented.
They expressed the hope that the problem of cash crunch would end soon.
