Beyond waivers

Farm loan politics will be counter-productive

A group of 13 well-known economists have released a paper that contains a non-partisan strategy for India in an attempt to build a consensus around growth-promoting reform prior to the Lok Sabha elections scheduled for the first half of next year. Among the many recommendations on primary education, banking reforms, and export promotion lie some particularly important comments dealing with the politically sensitive agricultural sector. The paper recommends addressing the constraints on acquiring land through the use of technology and economic best practices, including land banks, auctions for price discovery, and a land registry accompanied by government-guaranteed land titles. Yet,