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Advice | Farm loan waivers are harmful to the economy, for banks – as well as farmers

Advice | Farm loan waivers are harmful to the economy, for banks – as well as farmers

Data now reveals that this elixir of governmental success is causing damage that is structural has to be stopped before it becomes irreversible.

One might be forgiven for thinking that politicians pray for a monsoon that is bad of election years in order to dole down loan waivers. Issue is, freebies may look altruistic but are doing more harm than great for the economy generally speaking and farmers in specific.

Loan waivers were a shrewd brain. In place of making use of celebration funds to provide away freebies and garner votes, politicians developed the loan waiver, at a high price into the exchequer (sooner or later, all of us). Ironically, this cleverly scheme that is devised introduced throughout the tenure of economist-turned-Prime Minister Manmohan Singh, whom tried it in 2008 to return to energy. Ever since then it offers develop into a template which is used by all governmental events to recapture rural votes.