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Peasant classes, farm incomes and rural indebtedness: An analysis of household production data

Author

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  • Arindam Banerjee

    (Centre for Development Studies
    Institute of Economic Growth)

Abstract

The crisis and stagnation in Indian agriculture have persisted for over a decade and are not showing any signs of reversal. Falling real product prices faced by primary commodity producers have been one of the central causes for escalating farm indebtedness. The gradual shrinkage of formal credit institutions in rural areas has simultaneously caused increasing dominance of private players in the credit market, rendering producers all the more vulnerable. A class analysis of household-level farm production data from two states reveals the pattern of income decline and rising indebtedness in rural areas. The deleterious implications that these processes have for future agrarian development call for effective price stabilization operations and, in the short run, a comprehensive debt-relief policy.

Suggested Citation

  • Arindam Banerjee, 2009. "Peasant classes, farm incomes and rural indebtedness: An analysis of household production data," Centre for Development Studies, Trivendrum Working Papers 410, Centre for Development Studies, Trivendrum, India.
  • Handle: RePEc:ind:cdswpp:410
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    File URL: http://www.cds.edu/wp-content/uploads/2012/09/wp410.pdf
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    References listed on IDEAS

    as
    1. Sunil Mani, 2009. "Growth of Knowledge-intensive Entrepreneurship in India, 1991-2007," WIDER Working Paper Series RP2009-49, World Institute for Development Economic Research (UNU-WIDER).
    2. Hrushikesh Mallick, 2008. "Do remittances impact the economy? Some empirical evidences from a developing economy," Centre for Development Studies, Trivendrum Working Papers 407, Centre for Development Studies, Trivendrum, India.
    3. Sunil Mani, 2009. "The Growth of Knowledge-Intensive Entrepreneurship in India, 1991-2007 Analysis of its Evidence and Facilitating Factors," Working Papers id:1877, eSocialSciences.
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    Cited by:

    1. K. Navaneetham & M.Kabir & C.S Krishnakumar, 2009. "Morbidity patterns in Kerala: Levels and determinants," Centre for Development Studies, Trivendrum Working Papers 411, Centre for Development Studies, Trivendrum, India.

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    More about this item

    Keywords

    Agricultural Policy; Farm Households; House Hold Farm Production; Price Policy;
    All these keywords.

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy

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