ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Interlinked Agrarian Credit Markets

Although much attention recently has been devoted to agrarian credit markets, the private moneylenders' grip on rural life and the ruthless exploitation of borrowers remains undiminished. This paper highlights the plight of cultivators in Punjab and their exploitation at the hands of moneylenders-cum-commission agents. The modus operandi of this class of moneylenders, by interlinking the credit and output markets and the consequences thus of such transactions have been analysed in a region-specific analytical study. Clearly, institutional credit is not commensurate with demand. An assessment of reform measures reveals that the entire focus is not in line with requirements and that alternative policy measures are needed.

Interlinked Agrarian Credit Markets in Punjab-Exploitative, Yet Growing

and the Janata Dal together which in any case rests more on the willingness of the latter than the mediating powers of the CPI(M). The JD which has been trying to gain a foothold in UP realises that it can do so mainly at the expense of Mulayam Singh. It has no new radical plank to offer the much trumpeted entry of Ram Vilas Paswan in UP to take the dalits away from the BSP through his Dalit Sena could not succeed - and its social base is the same as that of the Samajwadi Party. So even if there is an alliance, it would be based on a long period of "arm twisting' and 'strength testing' where the equation between the JD and Mulayam Singh would keep changing. The JD at present is keen on playing the BSP card in ordertoeffectMulayam's submission before an understanding becomes inevitable.

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