Think beyond waivers
It refers to announcement of farm loan waiver by the Maharashtra government. After Uttar Pradesh, another BJP-ruled state government has waived off farm loans. For UP, it was the hit of about Rs 36,000 crore, while in Maharashtra it would cost about Rs 30,500 crore to the state's finances. It is a very wrong precedence set by these states, just to please their vote banks with no far-sighted approach. Not long ago, State Bank of India chairperson Arundhati Bhattacharya said that if such waivers are doled out it would disrupt the credit discipline among farmers across the country
