Agriculture Indian farmers driven to debt as banks turn risk-averse during pandemic Updated : August 27, 2020 07:50 AM IST Agriculture accounts for near 15 percent of India's USD 2.8 trillion economy and is a source of livelihood for more than half of its 1.3 billion people. Higher interest rates will reduce farm earnings, impacting overall rural incomes which are key to reviving the economy. The high level of bad loans in the agriculture sector is another deterrent to more lending. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.