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Introduction:
Farm loan waiver is the practice of writing off the loans given to farmers owing to their inability to pay them back due to reasons like calamity, disaster, political policies etc.Since 2014, there have been similar moves in Telangana, Karnataka, Andhra Pradesh, Maharashtra, Uttar Pradesh, Punjab, Rajasthan, Madhya Pradesh and Chhattisgarh which are States run by various parties. The loan waivers has become a big political tool in hands of political parties that has ruined capital status of Indian agriculture economics.
The NSSO Situation Assessment Survey of Agricultural Households (2013) shows that 52% of farming households are indebted, with rates as high as 89-92% in some States.
Body:
Farm loan waiver are necessary for farmers’ welfare:
Loan waivers are not sufficient for farmers’ welfare rather it’s in interest of Political Parties:
What needs to be done?
Conclusion:
Waiving of loans should be done only in the most exceptional circumstances. The challenge before political parties and governments is to deliver on the institutional solutions demanded by farmers as against temporary solutions of loan waivers.
By: ABHISHEK KUMAR GARG ProfileResourcesReport error
Kartik Goyal
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