Uttar Pradesh chief minister Yogi Adityanath’s announcement of farm loan waiver has given credence to similar demands from across the country. Those making these demands include political parties, protesting farmers and even the judiciary. An earlier Plainfacts column had pointed out how farm loan waivers can be counter-productive in the long run, a fact which is often overlooked while seeking temporary relief, which loan waivers bring. This larger point, however, does not undermine the need for providing relief to India’s distress-ridden rural economy.
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