SC dismisses plea seeking ban on loan waiver schemes

The Supreme Court on Monday dismissed a petition seeking to stop political parties from offering loan waivers and other monetary schemes in their election manifesto.

A bench headed by Justice SA Bobde dismissed the plea filed by advocate Reena N Singh on April 18.The petition had said that political parties were offering loan waiver schemes in their election manifesto to come to power by ignoring the negative effects on the economy.

The Centre and state governments should not be permitted to reduce or waive loans, it had said.The plea had sought that the central and the state governments should formulate an agricultural policy which could make the industry profitable and also help the farmers to become financially prosperous.