Title:
A STUDY OF THE FINANCIAL LITERACY OF LOCAL FARMERS IN RURAL INDIA

Authors:
Kushaan Agarwal

Abstract:
A study conducted by the Punjab Agriculture University (PAU) revealed that 88% of farmer suicides in the past 18 years in Punjab were due to farmer debt. Farmer debt is a phenomenon that has been rising year over year, leading to financial problems and creating stress for farmers. Financial literacy is crucial and can play a huge role in helping farmers manage their finances, manage their loans and so reduce their debt. This could also help them come out of the vicious cycle of poverty, as with better savings they’ll be able to support their children better.

Keywords:
Farmer debt, financial literacy, rural India

DOI:
https://doi.org/10.37500/IJESSR.2023.6513