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- W2241599363 abstract "Commission agents commonly referred to as arhtiyas are the key players between the farmers and buyers for facilitating the auction, arranging for the payment to the farmers (sellers) and other facilities like loading/unloading and cleaning of the produce and delivery of the produce to the buyers. They also arrange the required equipments, machines and labour for weighing, filling and stitching the grain bags for which the farmers and buyers pay as per the rates prescribed under the Punjab Agricultural Produce Market Act, 1961. The capital intensive nature of green revolution technology increased the financial needs of the farmers and the procurement needs of the state due to substantial increase in the agricultural production. As a result, two inter-linked markets; credit market and product market emerged, where commission agents played a dominant role. The institutional sources alone could not meet the credit requirements of the farmers and they had to go for non-institutional credit, especially from commission agents. Historically, the non-institutional credit market made the things worse for the farmers prompting the governments of the day for enacting laws. In 1901 the British government enacted the Land Alienation Act for preventing the non-agricultural classes from acquiring land from the agriculturists. Similarly, the Co-operative Societies Act was passed in 1904 to address the problem of rural indebtedness through institutional credit facilities. But, these acts were inadequate to solve the debt problem and check the process of alienation of peasants from land. Moneylenders started purchasing land in fictitious names called ‘benami’. Other laws like the Usurious Loans Act 1918 and the Provincial Insolvency Act 1920 were also enacted to regulate money lending. Long before these laws, the Usury Laws Repeal Act was enacted in 1855. Some more legislations were enacted in 1930s; like The Punjab Regulation of Accounts Act 1930, The Punjab Relief of Indebtedness Act 1934, The Punjab Restitution of Mortgaged Lands Act 1938, The Punjab Alienation of Land (Amendment) Act 1938, and The Punjab Registration of Moneylenders Act 1938. These acts were enacted to systematise the functioning and legitimise the role of" @default.
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- W2241599363 date "2011-01-01" @default.
- W2241599363 modified "2023-09-27" @default.
- W2241599363 title "The Status of Commission Agent System in Punjab Agriculture" @default.
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