Summarize Spoken Text
Instruction:
You will hear a short lecture. Write a summary for a fellow student who was not present at the lecture. You should write 50-70 words.
Indian Peasant Debt - Version Two
Transcript
The debt today is so high, it’s two hundred thousand rupees, three hundred thousand rupees of peasant who have no capital. They who know within a year or two, when they accumulate that kind of debt, they will never be able to pay back. Where is the debt coming from? It’s coming from a seed that is costing a hundred thousand to two hundred thousand rupees per kilogram, depending on what you got. Seed that used to be free, used to be theirs. Pesticides each time, they more they use, the more they have to use, 12 sprays, 15 sprays, 20 sprays. Pesticides used in just the last five years in the land areas of India has showed up by 2000 percent. That’s why the free market and globalization have brought and since we are talking about peasants, who have no money, who have no capital, they can only buy expensive seeds and expensive pesticides by borrowing. And who lend that money? The seed companies that sell the pesticides, which are the same companies that sell the seeds, as you know, are now also the major creditors.
Word count: 0
Answer:
Significantly focusing on the facts of Indian peasant debt and it comprises that the underlying causes are free market and globalization. Additionally, the spending on pesticides raises up due to the development of plant resistance to pesticides and peasants have to borrow large sums of money for pesticide and non-renewable seeds. It also denotes that those big corporations that sell seeds and pesticides are the major creditors of peasants’ debt. Submit
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