The Cycle of Debt: How Climate Change is Driving Farmers Deeper into Financial Crisis

Abstract

In the not-so-distant past, the dependence on rains for crops was not just common- it was natural. The recent years have seen an unprecedented drop in rainfed crop production which is concerning. By 2080, yields of staple crops like wheat and rice could decrease by 40% and 47%, respectively, threatening the livelihood of millions of Indians who rely on agriculture. These days, farmers deal with a disastrous combination of issues, including erratic weather patterns, rapidly rising expenses, and an acute shortage of financial assistance, which forces them into enormous amounts of debt.