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The debate occurred about the demand of loan waiver and state financial capability to waive the loan irrespective of pooling out the money from other expenditure. A loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan. The loan waiving has become a big political tool in hands of political parties that has ruined capital status of indian agriculture economics.
Arguments in favor of loan waiving:
Argument against the loan waiving:
Outstanding agricultural loan
Types of bank Outstanding loan amount
Commercial banks Rs 9.57 lakh crore
Regional Rural Banks Rs 1.45 lakh crore
Cooperative banks Rs 1.57 lakh crore
Waiving of loans should be done only in the most exceptional circumstances. Waiving of loans of farmers has helped the farmers save from many untoward incidents. Instead of waiving loans govt should focus on increasing the output of the farmers which in turn would generate more income for the farmers. Waiving of loans is a short term solution and may not solve the problem fully. There in need of focus more towards advancement of agriculture sector by schemes like Pradhan Mantri Krishi Vikas Yojana, PM Fasal Bima Yojana, promote research & development in agriculture.
By: Parveen Bansal ProfileResourcesReport error
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