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Advice | Farm loan waivers are detrimental to the economy, for banking institutions – as well as farmers

Advice | Farm loan waivers are detrimental to the economy, for banking institutions – as well as farmers

Data now implies that this elixir of governmental success is causing structural harm and should 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 they are doing more harm than beneficial to the economy generally speaking and farmers in specific.

Loan waivers had been a mind that is shrewd. In the place of making use of celebration funds to offer away freebies and garner votes, politicians developed the loan waiver, at a high price towards the exchequer (sooner or later, me and you). Ironically, this cleverly scheme that is devised introduced through the tenure of economist-turned-Prime Minister Manmohan Singh, whom tried it in 2008 to come back to energy.