would be futile. Development of non-farm activities is another major initiative that
is necessary. Most farmers currently consider certain petty business like opening a
small shop or buying capital goods such as tractor or truck for renting as the only
option. Thus, there is a need to provide training to the farmers as per the resource
base of a region to develop meaningful nonfarm activities. This can go a long way
in ameliorating their distress during crop failure.
Acknowledgement We thank RBI and State Planning Board, Government of Karnataka for their
support.
References
Bardhan, P. (Ed.). (1989). The economic theory of Agrarian Institutions. UK: Clarendon Press.
Barro, R. J. (1976). The loan market, collateral, and rates of interest. Journal of Money, Credit and
Banking, 8(4), 439–456.
Basu, K. (1983). The emergence of isolation and interlinkage in rural markets. Oxford Economic
Papers, 35(2), 262–280.
Basu, K. (1984). Implicit interest rates, usury and isolation in backward agriculture. Cambridge
Journal of Economics, 8, 145–159.
Basu, K. (1989). Rural credit markets: The structure of interest rates, exploitation and efficiency.
In P. Bardhan (Ed.), The economic theory of Agrarian Institutions. UK: Clarendon Press.
Basu, P. (2006). Improving access to finance for India’s rural poor. Washington, D.C.: The World
Bank.
Bhaduri, A. (1977). On the formation of usurious interest rates in backward agriculture.
Cambridge Journal of Economics, 1(4), 341–352.
Bhattacharjee, M., & Rajeev, M. (2010). Interest rate formation in informal credit markets in
India: Does level of development matter? Brooks World Poverty Institute Working Paper
Series 12610. BWPI, The University of Manchester.
Chakravarti Committee Report. (1985). Report of the committee to review the working of the
monetary system. Bombay: Reserve Bank of India.
Deshpande, R. S. (2008). Farmers’ Distress and Indebtedness: Miseries and Myths. Banglore:
Agriculture Development and Rural Transformation Centre, Institute for Social and Economic
Change.
Ghatak, S. (1975). Rural interest rates in the Indian economy. Journal of Development Studies, 11
(3), 191–201.
Gothaskar, S. P. (1988). On some estimates of rural indebtedness. Reserve Bank of India
Occasional Papers, 19(4), 299–327.
Government of India. (2007). Report of the Working Group on Risk Management. New Delhi:
Planning Commission (2007-2012).
Haggblade, S., Hazell, P. B. R., & Reardon, T. (2007). Transforming the rural non farm economy:
Opportunities and threats in the developing world. New Delhi: Oxford University Press.
National Sample Survey Organisation. (2003). Situation assessment survey of farmer households.
New Delhi: NSSO.
Patnaik, P. (2005). Financial liberalization and credit policy. In V. K. Ramchandran & M.
Swaminathan (Eds.), Financial liberalization and rural credit in India. New Delhi: Tulika
Books.
Rajeev, M., Ranade, R., & Deb, S. (2006). Why do poor farmers default less?: Case of Indian
informal credit market a game theoretic exploration. Posted: November 17, 2006 http://mpra.
ub.uni-muenchen.de/768/01/MPRA_paper_768.pdf
Climate Change and Uncertainty in Agriculture …
259
is necessary. Most farmers currently consider certain petty business like opening a
small shop or buying capital goods such as tractor or truck for renting as the only
option. Thus, there is a need to provide training to the farmers as per the resource
base of a region to develop meaningful nonfarm activities. This can go a long way
in ameliorating their distress during crop failure.
Acknowledgement We thank RBI and State Planning Board, Government of Karnataka for their
support.
References
Bardhan, P. (Ed.). (1989). The economic theory of Agrarian Institutions. UK: Clarendon Press.
Barro, R. J. (1976). The loan market, collateral, and rates of interest. Journal of Money, Credit and
Banking, 8(4), 439–456.
Basu, K. (1983). The emergence of isolation and interlinkage in rural markets. Oxford Economic
Papers, 35(2), 262–280.
Basu, K. (1984). Implicit interest rates, usury and isolation in backward agriculture. Cambridge
Journal of Economics, 8, 145–159.
Basu, K. (1989). Rural credit markets: The structure of interest rates, exploitation and efficiency.
In P. Bardhan (Ed.), The economic theory of Agrarian Institutions. UK: Clarendon Press.
Basu, P. (2006). Improving access to finance for India’s rural poor. Washington, D.C.: The World
Bank.
Bhaduri, A. (1977). On the formation of usurious interest rates in backward agriculture.
Cambridge Journal of Economics, 1(4), 341–352.
Bhattacharjee, M., & Rajeev, M. (2010). Interest rate formation in informal credit markets in
India: Does level of development matter? Brooks World Poverty Institute Working Paper
Series 12610. BWPI, The University of Manchester.
Chakravarti Committee Report. (1985). Report of the committee to review the working of the
monetary system. Bombay: Reserve Bank of India.
Deshpande, R. S. (2008). Farmers’ Distress and Indebtedness: Miseries and Myths. Banglore:
Agriculture Development and Rural Transformation Centre, Institute for Social and Economic
Change.
Ghatak, S. (1975). Rural interest rates in the Indian economy. Journal of Development Studies, 11
(3), 191–201.
Gothaskar, S. P. (1988). On some estimates of rural indebtedness. Reserve Bank of India
Occasional Papers, 19(4), 299–327.
Government of India. (2007). Report of the Working Group on Risk Management. New Delhi:
Planning Commission (2007-2012).
Haggblade, S., Hazell, P. B. R., & Reardon, T. (2007). Transforming the rural non farm economy:
Opportunities and threats in the developing world. New Delhi: Oxford University Press.
National Sample Survey Organisation. (2003). Situation assessment survey of farmer households.
New Delhi: NSSO.
Patnaik, P. (2005). Financial liberalization and credit policy. In V. K. Ramchandran & M.
Swaminathan (Eds.), Financial liberalization and rural credit in India. New Delhi: Tulika
Books.
Rajeev, M., Ranade, R., & Deb, S. (2006). Why do poor farmers default less?: Case of Indian
informal credit market a game theoretic exploration. Posted: November 17, 2006 http://mpra.
ub.uni-muenchen.de/768/01/MPRA_paper_768.pdf
Climate Change and Uncertainty in Agriculture …
259