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Avoid blanket loan waivers

Such populist measures affect credit discipline

Business Standard Editorial Comment 

In the wake of the Bharatiya Janata Party’s sweeping victory in the Uttar Pradesh Assembly elections, one particular campaign promise has received particular attention and led to political upheavals across the country. The BJP had promised that, if it came to power in Uttar Pradesh, it would waive loans taken by small and marginal farmers. Not surprisingly, other states — not to mention other political parties — have also got into the act and competitive populism reigns. The Congress has demanded a nationwide loan waiver. Though his state’s budget did not make any ...

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First Published: Mon, March 20 2017. 22:44 IST
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