Demonetisation, coupled with daily limits on cash transactions and fear of being tracked by revenue authorities post the Goods and Services Tax regime, have made traders less inclined to purchasing and stocking up produce during the harvest season.
As there are 21.6 crore small and marginal farmers — most of whom are not in a position to repay the loan or put collateral — such a scheme is the only way to support their fund requirements, apart from ensuring market prices for their produce.
“The government has looted and exploited our earlier generations and the farm loan waiver is a loot-wapasi. We are getting the first installment of it,” said Ajit Nawale, state general secretary of the All India Kisan Sabha, addressing the people at Azad Maidan.
“Our youth volunteers have been here since 7 am distributing tea, biscuits, vada pav and water to the protesters. We have partnered with JJ Hospital and St George Hospital and we have transport services on stand-by,” said Pandurang Sakpal, presdient, Shiv Sena South.