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Hundreds of paddy cultivators in Kuttanad, who are in debt trap, have appealed to the Prime Minister to save them by writing off their loan liabilities.
These farmers, who depend on paddy cultivation for livelihood, have defaulted on repayment of agriculture loans following successive monsoon failures.
The fall in output, coupled with three to four months’ delay in receipt of payment from paddy procurement agencies, has resulted in loan defaults, Fr Thomas Peeliyanickal, Executive Director, Kuttanad Vikasana Samithi, told BusinessLine .
Because of default, they have ceased to enjoy the 4 per cent annual interest rebate and have to pay compounded interest. He said many of them are in despondency as they are facing the threat of attachment of property.
“The affected farmers are meetingat Ramankary in Kuttanad on Sunday to make an appeal to the Prime Minister to write off their agricultural loans or write off the entire interest and convert the loan into long-term. They also want to be permitted to take loan for the next sowing,” he said.
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