{"id":2663,"date":"2014-12-09T06:47:25","date_gmt":"2014-12-09T11:47:25","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2663"},"modified":"2014-12-09T06:47:25","modified_gmt":"2014-12-09T11:47:25","slug":"no-country-for-poor-men-as-indias-big-farmers-get-cash-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2663","title":{"rendered":"No Country for Poor Men as India\u2019s Big Farmers Get Cash &#8211; Bloomberg"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/news\/2014-12-08\/no-need-to-repay-for-indian-farmers-as-debt-traps-poor.html\">No Country for Poor Men as India\u2019s Big Farmers Get Cash &#8211; Bloomberg<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">Vattikuti Prasad grows rice, bananas and sugar cane on his farm as big as 27 football fields in a part of southeastern\u00a0<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/india\/\">India<\/a>\u00a0where most farmers own plots the size of just one. He has two homes, including a four-bedroom house he rents out in a nearby town.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">This year Prasad took out at least 120,000 rupees ($1,940) in cheap farm loans from\u00a0<a class=\"web_ticker\" style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" title=\"Get Quote\" href=\"http:\/\/www.bloomberg.com\/quote\/SBIN:IN\">State Bank of India<\/a>and said he planned to use them to open a third branch of his pesticide and seed business in the state of Andhra Pradesh. And for the second time since 2008, he won\u2019t be paying the money back: The government has offered to forgive 350 billion rupees in agricultural loans, according to a report seen by<a style=\"box-sizing: border-box; cursor: pointer; color: #003399; text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; font-family: akzidenz-grotesk-std-bloom, Arial, Helvetica, sans-serif; font-style: normal; font-weight: bold;\" href=\"http:\/\/topics.bloomberg.com\/bloomberg-news\/\">Bloomberg News<\/a>.<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">\u201cIt is easily available, so I\u2019m taking it,\u201d Prasad, 37, said while counting a wad of 1,000-rupee notes from his shop\u2019s cash drawer under a noisy ceiling fan in the punishing heat. As many as 80 percent of fellow businessmen in his town of Tanuku, a 400-kilometer (250-mile) drive from Hyderabad toward the Bay of Bengal, have spent their farm loans on all kinds of things, especially buying more land, he said, with the confidence the money is free. \u201cWhy should we repay now?\u201d<\/p>\n<p style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 28px; font-size: 1.1em; line-height: 1.3125em;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No Country for Poor Men as India\u2019s Big Farmers Get Cash &#8211; Bloomberg. Vattikuti Prasad grows rice, bananas and sugar cane on his farm as big as 27 football fields in a part of southeastern\u00a0India\u00a0where most farmers own plots the size of just one. He has two homes, including a four-bedroom house he rents out [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[299,422,488],"class_list":["post-2663","post","type-post","status-publish","format-standard","hentry","category-economics","tag-farming","tag-india","tag-loans"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2663"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2663\/revisions"}],"predecessor-version":[{"id":2664,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2663\/revisions\/2664"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}