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Indian Journal of Agricultural Research
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Research Article
volume 52 issue 3 (june 2018) : 305-309, Doi: 10.18805/IJARe.A-4967
Has demonetization triggered farmers to move towards cashless transactions?
1ICAR-National Institute of Agricultural Economics and Policy Research, New Delhi-110 012, India.
Submitted23-12-2017|
Accepted13-03-2018|
First Online 05-06-2018|
Cite article:- Kumar Sant, Jain Rajni, Jhajhria Abimanyu, Bangaraju S.V., Balaji S.J. (2018). Has demonetization triggered farmers to move towards cashless transactions?. Indian Journal of Agricultural Research. 52(3): 305-309. doi: 10.18805/IJARe.A-4967.
ABSTRACT
This paper has documented the difficulties faced by farmers due to demonetization, facilities existing for making digital payments and farmers’ opinion about it. The study has used primary data collected through farm survey done in October 2017, almost a year after demonetization. The survey was made in three adopted villages under MGMG (Mera Gaon Mera Gaurav) scheme in Palwal district of Haryana. Results have shown that due to demonetization farmers faced numerous difficulties (both crop production and family related activities). They could not use quality inputs (particularly seeds of wheat) in desired quantity, got delayed payment of their crop produce and faced problems in drawing money from bank. Family and societal needs were also affected. Payment in cash was the main mode of transactions (and even now) for food and non-food articles. Analysis revealed that large number of farmers have bank account and are availing facilities of debit cum ATM card, but their functional literacy and infrastructure are inadequate. Farmers’ expressed both merits and demerits about digital payments. Nevertheless, without removing fear of farmers and other rural people and bringing change in their attitude, moving towards digital mode of transactions will not trigger desired results.
REFERENCES
- Banerjee, Abhijit (2016) Bad economics can bite back. The Hindustan Times, New Delhi, December 21.
- Bhattacharya, Arundhati (2016) Push for cashless: Charge levy on big-ticket cash transactions. The Indian Express, Mumbai, December 19.
- Economic Times (2016) What government plans to do with old ‘ 500 and 1000 Notes. The Economic Times, New Delhi, November, 23.
- IAMP (2017) Payments industry in India: Q4 2016. IMAP India.
- Kumar, Sant., Jain, R., Jhajhria, A., Narayan, P. (2017). Demonetization: the impact on agricultural activities, National Institute of Agricultural Economics and Policy Research, New Delhi, Mimeo.
- RBI (2016) Payment and settlement systems in India: Vision -2018. Department of Payment and Settlement System, Reserve Bank of India, Bombay.
- Shahare, V.B. (2017) Assessing the impact of demonetization on rural economy, Jharkhand Journal of Development and Management Studies, 15(2):7311-7324
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Copyright :
This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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Published In
Indian Journal of Agricultural Research