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Rural Finance and Farmers' Indebtedness: A Study of Two Punjabs

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  • Singh, Lakhwinder

Abstract

Economic development theory has recognized that access to finance enables economic agents of production to exploit growth opportunities. The governments of less developed countries since world war two have been striving hard to enacting suitable policies to enable rural households in accessing timely credit. This has led to a rise in the agricultural production and productivity. The pattern of economic transformation followed by less developed countries, which has squeezed agriculture sector surpluses without reducing the burden of population dependent in such economic activities. Consequently, the borrowing generally in such kind of economic transformation process becomes burden some. The modern development process in both the rural economies of Indian and Pakistani Punjab could also not able to replace the older money-lending system, which remained excessively exploitative. This process of financing rural economic activities can be called as double squeezing of agricultural households. An attempt has been made here to examine the growth, structure and deficiencies in the rural financial systems of two Punjabs during the period 1975-76 to 2003-04. Some suggestions related to public policy for providing timely and adequate credit have also been made.

Suggested Citation

  • Singh, Lakhwinder, 2008. "Rural Finance and Farmers' Indebtedness: A Study of Two Punjabs," MPRA Paper 11195, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:11195
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    File URL: https://mpra.ub.uni-muenchen.de/11195/1/MPRA_paper_11195.pdf
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    References listed on IDEAS

    as
    1. Bénédicte Vidaillet & V. D'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    2. Colin Kirkpatrick, 2005. "Finance and Development: Overview and Introduction," Journal of Development Studies, Taylor & Francis Journals, vol. 41(4), pages 631-635.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Rural Finance; Indebtedness; Economic development; Two Punjabs;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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