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Generate your own funds for farm loan waivers: Arun Jaitley to states

His comments come in the back of MP, UP, Maharashtra govts promising such waivers

IANS  |  New Delhi 

Union Finance Minister, Finance Minister, Arun Jaitley, Jaitley, NDA government, NDA
Union Finance Minister Arun Jaitley. Photo: PTI

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With mounting demands from farmers for loan waiver, Minister Arun on Monday said states will have to find funds for it from their own resources — virtually ruling out any funding from the Centre.

"I have already made the position. States which want to go for these kinds of schemes will have to generate them from their own resources. Beyond that as the central government, I have nothing to say," told reporters when asked if the Centre will help states on the issue of

The Minister was speaking after the morning session with heads of public sector banks to discuss their festering bad loans situation.

On Sunday, Maharashtra announced writing off the loans of small and marginal farmers in the face of a 10-day strike by agriculturists demanding among other things loan waiver.

Similarly, facing an agitation Chief Minister had promised to look into the demand for waiving agricultural loans.

Soon after BJP's stunning electoral victory in Uttar Pradesh earlier this year, the government had announced writing off farm loans to the tune of over Rs 30,000 crore.

First Published: Mon, June 12 2017. 15:39 IST