Karnataka becomes fourth state to announce farm loan waiver
DSIJ Intelligence / 21 Jun 2017
After Uttar Pradesh, Maharashtra and Punjab, the state of Karnataka has become the fourth one to announce farm loan waiver program. Karnataka government has waived off farm loan worth Rs 8167 crore, reported a leading national business news agency.
After Uttar Pradesh, Maharashtra and Punjab, the state of Karnataka has become the fourth one to announce farm loan waiver program. Karnataka government has waived off farm loan worth Rs 8167 crore, reported a leading national business news agency.
Maharashtra government had announced farm loan waiver program worth Rs 30000 crore, Punjab waived off Rs 10000 crore and Uttar Pradesh waived off Rs 36000 crore the year 2017. All these numbers are approximate as reported by leading business news agencies.
Rajasthan, Haryana and Gujarat may follow the series of farm loan waiver programs. Andhra Pradesh and Telangana have waived off farm loans in past two years.
The series of farm loan waivers may affect the credit discipline in the country, as expected by some economists in the market. However, some economists believe that the numbers raised by the states for farm loan waiving may not heavily impact the fiscal deficits and states can bear it.
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