India’s Farmers Caught in a Debt Spiral—Kisan Credit Scheme Faces Unintended Consequences

India’s Kisan Credit Card (KCC) scheme, originally designed to provide lowinterest loans for agricultural expenses, is now pushing farmers into financial distress. While the initiative aimed to modernize rural credit, many farmers are using these loans for nonagricultural needs, leading to crippling debt cycles.

 

Key Highlights:

While the KCC scheme was meant to empower farmers, its unintended consequences highlight the urgent need for financial literacy and better loan oversight in India’s rural economy.

 

Sources: MSN, Yahoo News, The Hindu BusinessLine.