Solution:
Banks and cooperative societies need to lend more in rural areas To save farmers from the debt trap, To generate income and increase production.1) Borrowers have to repay a larger amount than their income, leading to a debt trap. Banks and cooperative societies are needed to save poor farmers from this worse situation.
2) When banks and cooperative societies lend more to the rural people cheaply, they will start buying modern equipment to grow their crops better and earn a higher income.
3) Loans from banks and cooperatives will increase production in the country as people start to set up their businesses, grow their crops, and invest in projects, resulting in increased production.
